Turns out NEO Was Rejected After Offering Higher Coins From Tron To Buy Bittorrent

It turns out that Tron is not the only cryptocurrency project to attempt to buy peer-to-peer software company Bittorrent. According to Coindesk’s report, another crypto project trying to buy the software company was NEO, and the proposal made by the project officials to buy Bittorrent was higher than Tron’s offer, but was not accepted.

According to the report, NEO’ NEO Global Capital (NGC) has made a $170 million offer to acquire Bittorrent, as evidenced by comments from Weiyu Zhu, head of investment, and Bittorrent documentation. The reason behind the acceptance of Tron’s $120 million offer was that NGC’s offer was not more beneficial for the company and its shareholders.

Both NEO and Tron projects are in the top 20 in terms of market capitalization. NEO ranks 14th with a market capital of $1.5 billion, while Tron is ranked 13th with a market capitalization of $1.7 billion. there is. NGC is said to have revised its offer at some points, and NEO is said to have requested the exclusion of a provision that would invalidate the purchase if the investment arm is not completed within six months. Bittorrent may not have accepted the offer for these reasons…

NEO Had Concerns About Bittorrent

NEO’s head of investment believes NEO is decentralized in terms of Bittorrent’s technical features. had doubts that it could not be a file project. In addition, the political debates after Huawei and ZTE’s attempts to invest in American companies also caused concern.

Follow us on Twitter, like our Facebook page and Telegram to be up to date with the latest developments. Join our channel!