Justin Sun, well-known blockchain entrepreneur, has bought BitTorrent – well known file-sharing pioneer – NASDAQ reports. No additional info from both – Justin and the company. The staff is recommended to be silent.
Justin Sun best known for the Tron platform and its TRX cryptocurrency. Sun first started talking to BitTorrent in September of last year, when TRX ICO ended. After the merge BitTorrent will change the name to Rainberry most likely.
Though financial details about the acquisition are not announced, for Justin Sun it was not a problem to find the money. The total market cap of his TRX cryptocurrency is currently around $4.78 billion, $1.65 billion are being held by Sun’s Tron Foundation. Tron aims to build a decentralized internet, allowing developers to build blockchain-based applications. It’s unclear how exactly Tron plans to integrate with BitTorrent.
Justin Sun obtained Master of Arts (M.A.) from University of Pennsylvania with specialization in Political Economy. And he started his way in business with Ripple startup. Ripple provides global financial settlement solutions, giving rise to an Internet of Value (IoV). Sun joined the company as the first employee at Greater China area and has successively served as Ripple Labs’ Chief Representative in Greater China, Special Representative and Advisor since 2014. Named one of the 50 Smartest Companies by MIT Technology Review, Ripple Labs is an 110 person startup backed by prominent investors, such as Google Ventures, Andreessen Horowitz, Lightspeed Venture Partners and IDG Capital Partners.
In 2013 Justin Sun became Founder, chairman and CEO of PEIWO company. PEIWO (means Call me) APP is the largest voice live streaming app in China and enjoys tremendous popularity among Chinese teenagers. Their investors include prestigious institutions like IDG Capital Parnters, China Equity and visionary entrepreneurs like Chairman and CEOs of several China listed companies. PEIWO is located in China’s high-tech hub Zhongguancun.
In 2017 Justin Sun started new project as founder and CEO. TRON (TRX) is a blockchain-based, open-source protocol for the global digital entertainment industry. TRON supports various kinds of blockchain networks and smart contract systems, including bitcoin, Ethereum, EOS, Qtum, and other public blockchain smart contracts. It provides developers with multiprotocol infrastructure for entertainment app development, and allows users to enjoy smooth multiprotocol smart networks. Token sale ended on 2 of September 2017. Returns since ICO are: 22.82x in USD; 18.02x in ETH and 16.99x in BTC. But right now it is falling down close to its ICO price.