Chainalysis sues U.S. over $94.7M crypto analytics contract

Chainalysis is suing the U.S. government over a $94.7M contract awarded to TRM Labs, alleging improper procurement. Oral arguments are scheduled for September 2, 2026.

Chainalysis Government Solutions has filed a lawsuit against the U.S. government in the Court of Federal Claims. The company is challenging the Department of Homeland Security and Immigration and Customs Enforcement’s decision to award a sole-source contract, valued at approximately $94.7 million, to TRM Labs. Chainalysis alleges that standard competitive procurement procedures were bypassed, allowing TRM Labs to secure the exclusive contract without open competition. The contract covers blockchain analytics and forensic software services for Homeland Security investigations and is set to run from July 1, 2026, to June 30, 2027. TRM Labs has intervened in the case to defend the award. The court has sealed Chainalysis’s complaint due to confidential information and scheduled expedited briefings, with oral arguments planned for September 2, 2026. The case could impact future government procurement in the crypto analytics sector.