Chainalysis takes on US government over $95M TRM Labs contract

Chainalysis is contesting Immigration and Customs Enforcement’s $94.7 million contract award to TRM Labs in federal court. The company filed the lawsuit on July 27, with TRM Labs joining the case on the government’s side. A court order issued four days later allowed the complaint to remain sealed and set forth an expedited briefing process.

Reportedly, Chainalysis alleges that ICE violated the bidding process by awarding the contract to TRM Labs and depriving other firms of a fair chance to compete. According to government procurement records, ICE awarded TRM Labs the $94.66 million contract on July 1 for analytical services supporting the Homeland Security Task Force’s National Coordination Center Cyber Disruption Center.

The court will formally hear the case arguments in early September

On X, Corporate attorney Ariel Givner confirmed the Chainalysis Government Solutions, LLC v. United States case: “Quick refresher, these two companies both sell blockchain analytics tools that agencies use to track crypto. Now they’re fighting in court over who gets the government business.”

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