US Homeland Security and Coinbase Sign $1.36M Contract

Teodora Dobrilova
Teodora Dobrilova

Updated · Feb 21, 2022

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The Immigrations and Customs Enforcement branch is to get blockchain analytics software, thanks to Coinbase. The deal was signed on the 16th of September.

The Deal

Coinbase will provide ICE software development services that will enable it to monitor crypto finances and trading in the US. The deal is reportedly worth $1.36 million. Coinbase is to get $455,000 annually for up to three years. 

This is the second and largest contract between the two. In August, the crypto exchange also agreed to provide forensics software for $29,000. As per the official documents, Coinbase is “the only vendor who can reasonably provide the services required by the agency."

The Backlash

The move, however, is being criticized by social media users.

According to Alex Gladstein, the Chief Strategy Officer at Human Rights Foundation, the crypto platform was providing the government with “financial surveillance software”. In his tweets, he claims Coinbase “risk so much reputationally for such a relatively small sum”.

The Statistics

More and more people are showing interest in crypto. Statistics show that:

  • Experts predict that the global blockchain market will reach $23.3 billion by 2023.
  • 97% of users express confidence in cryptocurrencies.
  • Every three seconds, someone posts about Bitcoin on social media.

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Teodora Dobrilova

Teodora Dobrilova

Teodora devoted her whole life to words – reading, writing and trying to be original on social media. She got certified in digital marketing but still feels she’s not cool enough to be an influencer. (We all disagree – she influences the team pretty well.) She finished a master’s degree focused in Literature, Publishing, Mass Media. Her hobbies include traveling, and reading. Teddy hopes that yoga will be the thing to finally teach her some patience and show her the path toward world domination. Maybe modern tech can also help her with that.

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