Chainalysis Sues Over DHS Awarding $95M No-Bid Contract to TRM Labs

The U.S. Department of Homeland Security (DHS) awarded a $95 million, one-year no-bid contract to crypto analytics firm TRM Labs in July to provide tracking software and data analysis for combating crypto fraud and cybercrime. Competitor Chainalysis has filed a lawsuit against the Trump administration, challenging the award process as arbitrary and unreasonable. The DHS stated that TRM Labs was the only provider capable of delivering the required technical, data, and operational support.