Following its acquisition by the Tron Foundation, peer-to-peer file sharing service BitTorrent apparently pushed back against statements that it might start using cryptocurrencies.
BitTorrent wrote, in a statement published on its website on Tuesday, that it had “no plans to change” its business design and is not going to charge any fees for its services. The company added that it had “no intentions to allow mining of cryptocurrency now or in the future.” According to a report from Variety, the company was recently bought by Justin Sun from the Tron Foundation. “BitTorrent has been a leader of peer-to-peer file sharing and we think our vision of democratizing the Web by enabling decentralized, long lasting accessibility to information continues to be as relevant as it was when we started.”
Reports that the firm would be bought first surfaced last week, and on Tuesday news broke out that the deal was worth $140 million. BitTorrent co-founder and former president Ashwin Navin, however, told CoinDesk in an interview that the real cost price was $120 million. “The value of the deal is about $120 million. I believe there are some amounts out in the public that are incorrect, I think the value is lower than that,” Navin told CoinDesk.
Sale price aside, the news sent Tron’s TRX token’s up nearly 20 percent, based on an earlier report from CoinDesk. Sun, who launched the Tron Foundation, supposedly said during a radio show that he has “full admiration for BitTorrent.” Nevertheless, he refused to say what he wished the two companies would work on after the merger, only noting that some news would be released next month.