The Department of Homeland Security’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 up to a complete of $1.37 million by 2024.
- The contract with ICE is the most recent in a series of contracts between Coinbase and the U.S. authorities, as tracked by Tech Inquiry. Coinbase’s newest contract has the best total ceiling of all its authorities offers, nevertheless.
- In August, Coinbase signed the same however smaller contract with ICE value $29,000 to present the border enforcement company with licenses for its analytics software program.
- The change additionally signed contracts in April 2021 and May 2020 and with the U.S. Secret Service to present entry to its analytics software program. Both of those contracts have been initially below $50,000 in worth, however had most values of $183,750.
- Coinbase Analytics, the department of the change behind its analytics software program, emerged from Coinbase’s controversial 2019 acquisition of blockchain intelligence agency Neutrino.
- Several members of Neutrino’s eight-person group had beforehand labored on initiatives with The Hacking Team, 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.