FTC Granted Approval to Sell Off Butterfly Labs’ Bitcoins

By November 4, 2014Bitcoin Politics

The Federal Trade Commission (FTC) has secured the authority to begin converting Butterfly Labs’ bitcoin holdings into cash reserves.

The motion was granted by the US District Court for the Western District of Missouri on 29th October and marks the latest update in the case that began when the FTC filed a lawsuit against the company for fraud and misrepresentation this September .

At the time, Butterfly Labs was closed pending trial, although it has resumed […]

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