Rumors that TRON founder Justin Sun was going to buy BitTorrent have been circulating for some weeks now. In the last week of May, TorrentFreak reported that Justin Sun was planning to “take the company in and both parties are finalizing the latest details. With a multi-billion dollar market cap, TRON aims to decentralize the web, partly powered by BitTorrent.”
On Monday, June 11, Variety published confirmation of the acquisition: Entrepreneur Justin Sun has bought BitTorrent using the entity Rainberry Acquisition, which he owns. Last year, BitTorrent quietly changed its name to Rainberry.
Last week, Rainberry Acquisition and Rainberry both filed for a change of status – due to a merger – with the California Secretary of State. Sources say the acquisition/merger was announced to BitTorrent staff around the same time. The staff have been advised to stay silent on the matter.
Details regarding the “TRON BitTorrent” acquisition are sparse, but it wouldn’t be a stretch to state that TRON’s plans to build a decentralized internet will integrate BitTorrent’s existing technology.
The company has been working on its own platform – Tron Mainnet – to free itself from the Ethereum network. Tron Mainnet went live on June 1 and migration is expected to be complete by June 25.