Chainalysis Government Solutions is asking a federal court to block ICE from moving forward with a $94.6 million contract awarded to TRM Labs, arguing the agency skipped a fair competition. The protest, filed July 27 in the U.S. Court of Federal Claims, targets a sole-source award that ICE made on July 1.
What Chainalysis Alleges
Chainalysis claims ICE evaluated its bid using requirements from a May 28 request for information that were never included in the final Statement of Need. Those omitted requirements include automated disruption capabilities and partnerships with stablecoin issuers, according to the protest. The company says that left it at a disadvantage and that the award process was not transparent.
A Three-Day Window
The procurement timeline was tight. ICE issued a notice on June 8 inviting capability statements, with responses due by June 11 — giving vendors just three days to prepare. Chainalysis argues that such a compressed schedule, combined with the shifting requirements, made a meaningful competition impossible.
The Contract and the Ask
The contract, numbered 70CMSD26C00000005, runs from July 1, 2026 to June 30, 2027, with work performed in Fairfax, Virginia. It supports Homeland Security Task Force investigations. Chainalysis is asking the court to block performance of the contract and require ICE to hold a full and open competition instead of the sole-source award.
Next Steps
Oral argument is scheduled for September 2, 2026. Until then, the contract remains in place, but the court's decision could force ICE to restart the procurement process.
