The judge in the Federal Trade Commission case against Butterfly Labs granted the temporary receiver’s motion to transfer all of Butterfly Lab’s bitcoin holdings to a court-controlled wallet, in connection with the establishment of an adequate cash reserve to cover potential refund liability.
District Court, Western Missouri
Butterfly Labs filed a motion to dismiss the FTC’s complaint that it engaged in fraudulent and deceptive practices in its mining equipment business.
District Court for Western Missouri
The Federal Trade Commission filed a reply in support of its motion for preliminary injunction against Butterfly Labs, alleging that Butterfly Labs used machines that customers ordered to mine bitcoins for themselves before shipping the used machines to their customers, often months after the machines had been ordered. The FTC also alleged that Butterfly Labs…