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The Division of Homeland Safety’s Immigration and Customs Enforcement (ICE) department awarded a three-year contract to Coinbase for its analytics software program on Sept. 16.
- The preliminary obligation is for $455,000 however can go as much as a complete of $1.37 million by 2024.
- The contract with ICE is the most recent in a sequence of contracts between Coinbase and the U.S. authorities, as tracked by Tech Inquiry. Coinbase’s newest contract has the best general ceiling of all its authorities offers, nevertheless.
- In August, Coinbase signed an analogous however smaller contract with ICE price $29,000 to offer the border enforcement company with licenses for its analytics software program.
- The alternate additionally signed contracts in April 2021 and Could 2020 and with the U.S. Secret Service to offer entry to its analytics software program. Each of those contracts have been initially beneath $50,000 in worth, however had most values of $183,750.
- Coinbase Analytics, the department of the alternate behind its analytics software program, emerged from Coinbase’s controversial 2019 acquisition of blockchain intelligence agency Neutrino.
- A number of members of Neutrino’s eight-person crew had beforehand labored on tasks with The Hacking Group, an Italian hacking agency that offered adware to authoritarian governments with a historical past of human rights abuses.
- Coinbase CEO Brian Armstrong finally fired the Neutrino members related to The Hacking Group, however Coinbase’s repute for surveillance persists.
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