The US Federal Trade Commission says it has reached a settlement with bitcoin mining firm Butterfly Labs after it sued the company in 2014.
Butterfly Labs has reopened for business, processing delayed shipments and refunds for select customers.
Embattled bitcoin mining hardware company Butterfly Labs is back in business, following a federal court ruling on Friday.
The FTC has secured court authority to begin converting Butterfly Labs’ bitcoin holdings into cash reserves.
Embattled mining hardware company Butterfly Labs has filed a court motion to dismiss a Federal Trade Commission complaint.
This week's roundup includes an interview with the FTC and a look inside pen-and-paper bitcoin mining.
Butterfly Labs has announced that it will resume limited business operations following discussions with the FTC.
The FTC is allegedly evaluating a plan that could help put Butterfly Labs back in business.
The FTC has filed new documents in its case against Butterfly Labs, accusing it of mining using customer-purchased rigs.
FTC attorney Leah Frazier told CoinDesk that Butterfly Labs misrepresented itself when selling mining products.