Crypto exchange Coinbase has signed a million-dollar deal with the United States Homeland Security
Coinbase signs a deal with the US government
Crypto exchange Coinbase has signed a deal to provide the Immigrations and Customs Enforcement branch of the United States Homeland Security with blockchain analytics software. According to the Federal Procurement Data System, the deal is worth approximately $1.36 million.
Coinbase was given a $1.36 million contract to provide business application and application development software to the US Homeland. This is the largest federal contract handled by the cryptocurrency exchange so far.
I missed this in procurement feed yesterday, but cryptocurrency exchange platform Coinbase has a new award with ICE which is either 15x or nearly 50x as large as its previous award, depending on how you count.
It is Coinbase's largest fed contract.https://t.co/B4IsabH4sw
— Jack Poulson (@_jack_poulson) September 18, 2021
The deal was signed last week and is worth nearly forty times more than Coinbase’s last contract with the Homeland Security branch.
Coinbase is in the sight of regulators
Coinbase is one of the publicly-listed cryptocurrency exchanges in the world. Recently, it has grabbed the attention of regulators in the United States. US SEC chair Gary Gensler has asked Coinbase to register with the regulator after complaining that no federal regulatory body is currently overseeing the activities of crypto exchanges.
The SEC had also asked Coinbase to suspend its Lender program, but the crypto exchange said the regulator didn’t provide any explanation.