Justin Sun’s Big Plans for Tron [TRX] Cryptocurrency

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October 8, 2024 4:39 pm

Justin Sun announced yet another support for the token exchange from a crypto exchange and a wallet. The latest reports confirm that the Tron founder has acquired BitTorrent but Sun has yet to say anything on this. However, TRX price has yet to experience any greens yet.

All about the agreement

Talks regarding acquisition between Sun and BitTorrent were in the air since last September after several meetings Sun eventually signed a letter of intent to acquire in January 2018.

However the proceedings of the dealings were not very easy going, it witnessed many ups and downs, Sun also filed a temporary restraining order against BitTorrent for shopping around to other bidders, because as per Justin Sun BitTorrent had promised them to not to pursue other offers.

But apparently, everything got resolved. Sun finally uplifted the restraining order against BitTorrent and another legal entity called ‘ Rainberry Acquisition LLC’. Coincidentally BitTorrent had changed the name of their operating legal entity to Rainberry INC. in 2017.

A news was released in May this year regarding, TRON’s acquisition of BitTorrent. Sun filed for a change of status of Rainberry Acquisition LLC due to the merger with the California Secretary of state, BitTorrent also filed for the merging of documents on the same day with the name of Rainberry INC.

Media reports suggest that on June 11 the deal was believed to have been secretly closed last week. This was apparently announced with an email from BitTorrent’s management to staff confirming that the acquisition was complete, certain key stakeholders were also informed about the deal by the transfer agent who finalized the deal.

However the deal has been kept a little secretive, employees of both the company had been given strict instructions to not to disclose about the deal and no public announcement was made until the last date.

Tron gets listing & more support for token swap; Price still down

As per the latest reports, Trade Satoshi will be supporting TRON mainnet. It will also be listing TRX on the 26th of June, against several pairs viz. BTC, DOGE, LTC, USDT, BCH, and ETH.

RT justinsuntron “#TRX $TRX cobowallet will support #TRON blockchain upgrade and token migration. https://t.co/JmrSyNixUX“

— TRX News – 波场 (@TRX_News) June 12, 2018

Sun also took to Twitter to announce that Cobo Wallet will also enable joining as the super representative. As per the reports by Medium,

“Cobo wallet, a leading cryptocurrency wallet co-founded by the founder of F2pool, expressed their intent to run for TRON Super Representative in an announcement today.”

Cobo Wallet will be participating in TRON’s Super Representative Elections! @cobowallet is a leading cryptocurrency wallet that supports most major cryptocurrencies like BTC, ETH, TRX, BNB. Our first SR Election will be on June 26, 2018. #TRON $TRX https://t.co/6n2iNOfSah

— Justin Sun (@justinsuntron) April 24, 2018

It further mentions,

“Cobo Wallet is building out products for the blockchain ecosystem with support for most major cryptocurrencies like BTC, ETH, TRX, BNB, etc.”

Witnessing the recent developments in the crypto market, TRON has been extremely popular in the crypto market. Currently, Tron’s market price is $0.047674 with a market cap of $3,098,964,919.

Nothing has been commented on BitTorrent acquisition by Sun, it’s yet to be known if we would get to see the integration of Tron into BitTorrent system or it will serve some other purpose.

How do you think BitTorrent will be involved in Tron or not, for that matter? Do share your views with us.