Chainalysis sues ICE over $94.7M contract awarded to TRM Labs

Chainalysis has sued U.S. Immigration and Customs Enforcement over a $94.66 million blockchain analytics contract awarded to rival TRM Labs, Wu Blockchain reported. Chainalysis argued ICE applied undisclosed evaluation criteria while awarding the sole-source contract to TRM Labs without a competitive bidding process, and said some conditions were tailored to TRM Labs’ existing products and business structure. Chainalysis asked the court to halt the contract and require an open competitive bidding process. TRM Labs joined the case to defend the contract, and a court hearing is scheduled for Sept. 2.