Butterfly Labs to Resume Limited Business Operations
Embattled bitcoin mining manufacturer Butterfly Labs has announced that it will resume limited business operations following discussions with the Federal Trade Commission (FTC). The Missouri-based company will not be allowed to serve new consumers when it reopens, and will be restricted to fulfilling existing customer orders. Butterfly Labs further confirmed it will remain under the direction of a court-appointed receiver who will oversee the business. Butterfly Labs suggested that it aims to use this opportunity to rebuild its market perception, which it acknowledged has been impacted by....
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Embattled mining hardware company Butterfly Labs has filed a motion to dismiss a Federal Trade Commission (FTC) complaint against the company. Butterfly Labs (BFL) was shut down by the FTC last month following numerous claims of public misrepresentation and downright fraud. However, in spite of nearly 300 customer filings against the company, BFL still insists it is the victim of overzealous regulators and intends to resume limited operations in the near future. The sentiment is evident in the opening remarks of the latest filing, in which the company alleges the FTC headed a
Infamous Bitcoin mining company Butterfly Labs (BFL) has reopened and has an updated website following their tussle with the FTC. The FTC started investigating Butterfly Labs in late 2014 because "consumers who have purchased the machines or services cannot use them to generate Bitcoins because Defendants [Butterfly Labs] never provide them with the machines or services." BFL would regularly mine on customers' hardware for days before finally shipping it out. Also read: Judge Considers Allowing Bitcoin Mining Company Butterfly Labs (BFL) to Reopen. Butterfly Labs (BFL) Reopens. The....
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Bitcoin mining hardware supplier Butterfly Labs resumed its business operations this week following the court's permission. The Missouri-based company was shut downed since September 2014, following a complaint made by the Federal Trade Commission (FTC). However on December 12, 2014, the US District Court rejected the FTC's appeal and allowed Butterfly Labs to continue operations. The court further handed the company's assets back to its rightful owners upon completion of the wind-down. Butterfly later took its website to express its homecoming to customers, and wrote: "We remain as....
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