BitTorrent founder Bram Cohen publicly accused Justin Sun of not making the final payment on the TRON Foundation's $140 million acquisition of BitTorrent, Inc.Anybody know if Justin Sun is hard up for cash? He isn't letting the last payment for BitTorrent get out of escrow.
Crisis strikes TRON and BitTorrent CEO Justin Sun once again.
Prior to the most recent controversy, Sun canceled lunch with Warren Buffett after winning a $4.57 charity auction, and then rescheduled the meeting, after "Sudden kidney stones." At the same time, a slew of accusations from Chinese state-sponsored media organizations-including allegations that Sun's businesses are facilitating gambling and pornography transactions in China-resulted in him allegedly getting barred from leaving the country.
Justin Sun was last seen via live stream in San Francisco, with several sources claiming he is evading Chinese authorities.
Now, BitTorrent's founder Bram Cohen is alleging that Justin Sun is not making the final payment on the problematic problematic BitTorrent deal.
Justin Sun agreed to purchase the torrenting company for $140 million in June 2018, with a few complications.
Shortly after the purchase went through, in January 2019 Sun launched an ICO for BitTorrent, raising $7 million in 15 minutes.
Now while Justin Sun struggles with Chinese authorities and alleged health complications, Cohen claims that the escrow agency responsible for the deal has not received "Signoff" on the remainder of the funds.
TRON Foundation head of business development Roy Liu responded to Cohen, saying money in escrow is "Not considered Justin's cash" and that Sun had already signed the release agreement.
Whatever the cause for the breakdown in negotiations, the timing for Justin Sun is certainly inopportune.
BitTorrent founder accuses Justin Sun of failed payment in TRON Foundation's $140 million acquisition
gepubliceerd op Jul 26, 2019
by Cryptoslate | gepubliceerd op Coinage
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