Chainalysis sues U.S. government over ICE’s direct award of a $94.6 million TRM Labs contract

Chainalysis Government Solutions has filed suit over U.S. Immigration and Customs Enforcement’s direct award of an approximately $94.6 million contract to rival TRM Labs, arguing that the procurement decision was “unreasonable and arbitrary.” The dispute was filed on July 27 in the U.S. Court of Federal Claims. It concerns a one-year contract that would run from July 1, 2026, to June 30, 2027, and would provide blockchain forensics software and support services to a Homeland Security task force. TRM Labs entered the case on July 28 and is defending the contract award together with the U.S. government. ICE had spent about six days on market research. After receiving responses from eight companies, it concluded that only TRM Labs had the required capabilities. Chainalysis’ main request remains sealed because it involves commercial secrets. The court has scheduled oral arguments for Sept. 2 and ordered the government to make a decision no later than Sept. 10.