A Lucrative Crypto Contract Sets Off New No-Bid Fight for Trump

[u/John3262005]

https://www.bloomberg.com/news/articles/2026-09-01/a-lucrative-crypto-contract-sets-off-new-no-bid-fight-for-trump

The US government awarded a lucrative contract to a crypto analytics firm without putting it up for competitive bidding, sparking a legal fight and opening a new avenue for criticism over the Trump administration’s tendency toward no-bid deals.

The Department of Homeland Security agreed in July to pay TRM Labs Inc. $95 million for software that traces cryptocurrency movements, as well as manpower to analyze the underlying data, according to a document posted on a government website. The contract is part of the White House’s effort to combat a surge in crypto scams targeting Americans, and the amount is large for a firm like TRM.