28 Sep '14, 9pm

Bitcoin News in Review: PayPal, Butterfly Labs, Goldman Sachs, and More

Bitcoin News in Review: PayPal, Butterfly Labs, Goldman Sachs, and More

Considered a scam by most in the Bitcoin community, Butterfly Labs has finally been shut down by the FTC . With a court order obtained from the Western District of Missouri, the FTC has prohibited BFL from doing any business, frozen their assets, and placed the company in receivership. BFL routinely failed to deliver customers’ orders, and if orders were ever delivered, they were usually obsolete by that time. Jessica Rich, director of the FTC’s Bureau of Consumer Protection, says she looks forward to “putting the company’s ill-gotten gains back in the hands of consumers.” Butterfly Labs has responded to the FTC, accusing the regulatory agency of being “heavy-handed” and “going to war on bitcoin”. BFL will present testimony from key company witnesses to the court on 29th September.

Full article: https://www.cryptocoinsnews.com/bitcoin-news-review-paypa...

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