Tron Took BitTorrent Deal Away From Neo, Overtaking Competitor

Tron didn't even bid the highest amount to buy BitTorrent. NGC offered a lot more than Justin Sun. They offered $50 mln more than Tron. Sun pulled the deal off

Tue, 4/09/2018 - 16:40

Tron Took BitTorrent Deal Away From Neo, Overtaking Competitor

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Coindesk reports that Tron did not even bid the highest amount to buy BitTorrent. Neo Global Capital (NGC) offered a lot more than Justin Sun. They, reportedly, offered $50 mln more than Tron, which purchased BitTorrent for $120 mln. Curiously enough, Sun pulled the deal off.

Originally, Sun was not going to buy all of the company, he just wanted to buy a controlling stake. However, later the major investor of BitTorrent, in control of the 90 percent of shares, insisted that Sun buy the rest of the stake as well.

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.