TRM Labs Secures $95 Million Cryptocurrency Tracking Contract with U.S. Department of Homeland Security, Chainalysis Files Lawsuit

In July, the U.S. Department of Homeland Security signed a $95 million, one-year non-competitive contract with TRM Labs to provide cryptocurrency tracking software and data analysis personnel to support efforts against cryptocurrency fraud and cybercrime targeting American citizens. Competitor Chainalysis has filed a lawsuit against the contract, alleging that the awarding process was "arbitrary, capricious, and unreasonable." The U.S. government stated in a public explanation that TRM is "the only vendor capable of providing the complete technical, data, and operational support services required."

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