Chainalysis sues the U.S. government over an exclusive contract, with TRM Labs voluntarily appearing as a co-defendant

Chainalysis Government Solutions has filed a lawsuit against the U.S. government in the U.S. Court of Federal Claims over an exclusive contract. Chainalysis claims that the Department of Homeland Security/Immigration and Customs Enforcement (DHS/ICE) bypassed normal competitive procedures and directly awarded the work to TRM Labs. They are requesting the court to stop this action.

TRM Labs has joined the lawsuit as an intervenor, defending the award of the contract, with oral arguments scheduled for September 2. The U.S. Court of Federal Claims is responsible for handling nationwide claims against the U.S. government, typically involving contract disputes and bid protests. Both Chainalysis and TRM Labs are selling blockchain analysis tools for government agencies to track cryptocurrency transactions, and they are now competing for government business in court.