Chainalysis Sues U.S. Government Over $94.7M Contract Award to TRM Labs
Chainalysis has initiated legal proceedings against the U.S. government, contesting a contract valued at $94.7 million awarded to TRM Labs by ICE. The lawsuit was filed on July 27 in the U.S. Court of Federal Claims, where Chainalysis argues that the bypassing of competitive bidding was unfair. The contract is set to begin on July 1 and will support blockchain investigations by the Homeland Security Task Force. Chainalysis claims it had the capabilities to meet the contract's requirements. TRM Labs is also involved in the case. The government has until August 21 to respond, with proceedings scheduled for early September.
Key facts
- Chainalysis sued the U.S. government over a $94.7 million contract awarded to TRM Labs.
- The lawsuit was filed in the U.S. Court of Federal Claims on July 27.
- ICE awarded TRM Labs a sole-source contract worth $94.655 million, starting July 1.
- Chainalysis alleges the award was 'arbitrary, capricious, and unreasonable'.
- The contract supports Homeland Security Task Force investigations.
- Chainalysis had received a $262,149 order from ICE for its Reactor platform two months earlier.
- TRM Labs joined the lawsuit as a defendant-intervenor on July 28.
- Responses are due by August 21, oral arguments on September 2, and a decision requested by September 10.
Entities
Institutions
- Chainalysis
- TRM Labs
- U.S. Immigration and Customs Enforcement (ICE)
- U.S. Court of Federal Claims
- Homeland Security Task Force
Locations
- United States