Chainalysis Sues U.S. Government Over $94.6 Million ICE Contract Awarded to TRM Labs

Blockchain analytics firm Chainalysis has filed a lawsuit in the U.S. Court of Federal Claims against the Immigration and Customs Enforcement (ICE). The dispute concerns a $94.6 million sole-source contract for forensic software and support awarded to competitor TRM Labs for the period of July 2026 to June 2027. Chainalysis argues that the government's decision was arbitrary and capricious, claiming the agency improperly utilized outdated RFI standards. The company is seeking to block the contract and force a public bidding process. The government and TRM L