TRM Labs wins $95 million contract from US Department of Homeland Security, sued by Chainalysis

According to Bloomberg, the US Department of Homeland Security signed a one-year, no bid contract worth $95 million with TRM Labs in July to provide cryptocurrency tracking software and data analytics personnel. Competitor Chainalysis has filed a lawsuit against the Trump administration over the contract, alleging that the award process was arbitrary, inconsistent, and unreasonable. The US Department of Homeland Security stated in a public statement that TRM Labs is the only supplier capable of providing the required complete technology, data, and operational support services.