Chainalysis sues ICE over $94.7M TRM Labs award

Chainalysis Government Solutions has expanded its legal challenge against a $94.66 million blockchain analytics contract that U.S. Immigration and Customs Enforcement awarded to rival TRM Labs, alleging the agency improperly bypassed competitive bidding and used undisclosed evaluation criteria. The company filed a post-award bid protest in the U.S. Court of Federal Claims, detailing seven claims that accuse ICE of tailoring the procurement to TRM Labs' existing products and commercial relationships. The contract, awarded on July 1, 2026, is described as the largest federal blockchain analytics award to date.