Bitcoin startup Butterfly Labs settles with FTC for $38.6M, though it can’t pay

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On Thursday, all-but-defunct Bitcoin miner manufacturer Butterfly Labs (BFL) finally settled with a Federal Trade Commission in a lawsuit that has dragged on given Sep 2014. The box had been scheduled to go to hearing in Kansas City subsequent month.

For a final dual and a half years, Ars has followed BFL as it has left from being a curious hardware startup in a nascent Bitcoin mining attention to a target of a sovereign investigation. Customer orders totaling millions of dollars were significantly behind or never fulfilled. Back in 2013, Ars perceived an early indication of a BFL miner and successfully used it to cave $700 value of bitcoins, that we sole for money and afterwards donated to a Electronic Frontier Foundation. Any miners that shipped now, though, are mostly worthless, as Bitcoin mining has changed to a cloud and divided from individuals.

Under a terms of a new agreement, which

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