Chainalysis sues the US government over a $94.7M sole-source contract awarded to competitor TRM Labs for blockchain intelligence services. The firm calls the procurement process arbitrary and capricious.
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On July 27, 2026, Chainalysis Government Solutions filed a lawsuit against the United States in the Court of Federal Claims. The blockchain intelligence firm is challenging a roughly $95 million contract that Immigration and Customs Enforcement awarded to rival TRM Labs without a competitive bidding process.
The contract, number 70CMSD26C00000005, was granted to TRM Labs on July 1 and runs through June 30, 2027. It supports the Homeland Security Task Force National Coordination Center Cyber Disruption Center. The forensic technology platform covers digital asset transaction tracking, blockchain data analysis, open-source intelligence gathering, asset seizure and recovery assistance, and criminal network visualization.
Government procurement records show the award was marked “not competed,” meaning only a single offer was considered. In June, ICE published a notice of intent to buy from a single vendor and invited companies to submit capability statements by June 11. Chainalysis said in court filings that it submitted a statement within the deadline.
Chainalysis called the procurement decision “arbitrary, capricious, and unreasonable.” The company said it had the qualifications to compete but was shut out of a fair evaluation. The full complaint remains under seal. The court approved sealing on July 31 to protect proprietary business information and trade secrets.
TRM Labs entered the case as an intervenor on July 28, backing the government’s position. The case is Chainalysis Government Solutions, LLC v. United States, No. 26-1067C. Both firms provide blockchain analytics used by federal law enforcement to trace crypto transactions and investigate financial crime. The contract is one of the highest-value awards in the sector.
Judge Stephen S. Schwartz set an expedited schedule. Chainalysis filed a sealed motion for judgment on the administrative record on August 11. The government and TRM Labs must file cross-motions and response briefs by August 21. Chainalysis’s reply is due August 26, final pleadings by August 31, and a consolidated appendix by September 1.
Oral arguments are scheduled for September 2 at 10:00 a.m. Eastern at the National Courts Building in Washington. Government attorneys asked the judge to rule by September 10. No decision has been made on whether ICE’s sole-source procurement violated federal acquisition rules.
TRM Labs declined to comment. Chainalysis and ICE did not respond to inquiries.
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