U.S. Homeland Security Signs $95 Million Contract With TRM Labs for Crypto Tracking Software

U.S. Homeland Security signed a one-year, no-bid contract with TRM Labs in July worth $95 million for cryptocurrency tracking software and data analytics staff, according to Bloomberg. According to PANews, the services are intended to support the White House's efforts against crypto scams and cybercrime targeting U.S. citizens. Chainalysis has filed a lawsuit against the Trump administration over the contract, saying the award process was "arbitrary, capricious and unreasonable." In a public explanation, U.S. officials said TRM was the "only vendor capable of providing the full technical, data and operational support services required."