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first_img Chainalysis sues ICE for exclusively awarding a $94.6 million blockchain analysis contract to TRM Labs

Blockchain analysis company Chainalysis has filed a lawsuit in the U.S. Federal Claims Court, accusing the U.S. Immigration and Customs Enforcement (ICE) of illegally awarding a $94.6 million exclusive contract to competitor TRM Labs. This contract provides forensic software and support services for investigations by the Department of Homeland Security's task force, with a performance period from July 1, 2026, to June 30, 2027. Chainalysis claims this is the largest blockchain analysis contract awarded by the U.S. government to date.In the complaint, Chainalysis points out that ICE issued a Request for Information (RFI) on May 28, which included 18 questions related to capabilities such as a proprietary fraud victim database, AI agent data retrieval, automated notifications for virtual asset service providers (VASP) to execute voluntary freezes, and collaboration with stablecoin issuers. However, many of the RFI requests did not appear in the final Statement of Need released less than two weeks later, while ICE's market research determined that Chainalysis could not meet the requirements based on RFI standards. Chainalysis also noted that "sexual extortion," which was not mentioned in the RFI, became one of the three main task areas in the Statement of Need, and some requirements closely matched TRM's proprietary product architecture.Chainalysis claims it was the only company to submit a capability statement, but ICE completed its market research the next day, determining that TRM was the only vendor capable of meeting all the requirements, and did not pose any follow-up questions to it.

Zhao Changpeng: This year has not been a good year for the crypto field, but the progress of RWA and stablecoins is unexpected

Zhao Changpeng appeared on the podcast "Meanders" and discussed the pressures, adaptability, and lifelong motivation in the cryptocurrency field. When talking about pressure, Zhao Changpeng stated, "I generally do not set goals; I just do my best. This year the market is not good, so the company's performance may decline, but I have tried my best, I did not slack off, and I did not make any major mistakes. I handle problems in the same way.""No matter how difficult the problem is, I just try my best to deal with it. I also believe in simulation theory; I believe this world is simulated, so it’s like a game. It is simulated, but that does not mean this game is unimportant. However, in this game, I just need to do my best; you try your best to handle it, and after handling it, you can only wait, just lie back and win."Zhao Changpeng mentioned the industry, saying, "As for blockchain itself, I think the improvement in performance is still too slow. But because Bitcoin upgrades slowly, it is particularly stable, which is also an advantage. So there are advantages and disadvantages. Many of the ideas we had in the early days had many implementations, many that were not implemented, and many unexpected things happened."Regarding RWA, he said, "Even a year and a half ago, I would have doubted whether RWA could succeed, but now it is growing very fast. To be honest, I might have had some doubts about stablecoins five years ago, wondering how long they could last; at that time, I did not fully understand them. Stablecoins have their own uses. So these things are all things we did not think of before."

The risk of "exit difficulty" in the South Korean cryptocurrency market emerges: nearly 30% of assets among the five major exchanges can only be traded on one

According to South Korean media Daum, an analysis of the five major Korean won exchanges Upbit, Bithumb, Coinone, Korbit, and GOPAX, as well as the public API of CoinGecko, found that after excluding duplicate assets, the five exchanges collectively support approximately 606 types of crypto assets. Among them, 164 types (27.1%) are only available for trading on one exchange, and another 324 types (53.5%) are traded on two or fewer exchanges.Among the assets supported by a single exchange, Coinone has the most, with 55 types; Bithumb has 54 types, GOPAX has 25 types, Upbit has 16 types, and Korbit has 14 types. In terms of liquidity, the median trading volume of these 164 assets in nearly 24 hours is only about 1.37 million won, with 79 types having a trading volume of less than 1 million won, and 38 types even having zero transactions.The analysis suggests that listing on a single exchange does not inherently mean that the asset carries risk. If the relevant assets are actively traded on overseas exchanges or support smooth withdrawals, investors still have other exit channels. However, for assets with low overseas trading volume and restricted deposit and withdrawal networks, once support is terminated, investors may face difficulties in both selling and transferring.
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