Coinbase is selling its blockchain analytics software to the U.S. Department of Homeland Security and the U.S. Secret Service. Following criticisms from the crypto community, CEO Brian Armstrong defended Coinbase’s position.
Coinbase Selling Analytics Software to US Government
Public records on the U.S. government’s websites reveal that the San Francisco-based crypto exchange Coinbase has signed a contract with the U.S. government for its blockchain analytics software. The records were first spotted by The Block.
The contract, awarded by the U.S. Department of Homeland Security (DHS), was signed on May 9. It went into effect the next day with a tentative end date of May 11, 2024. The obligated amount is currently $49,000 and the potential award amount is $183,750. The contracting agency is the U.S. Secret Service, a federal agency that investigates monetary crimes such as fraud and counterfeiting; it was transferred from the Department of the Treasury to the Department of Homeland Security on March 1, 2003.