Chainalysis Government Solutions is pressing a bid protest in the U.S. Court of Federal Claims over ICE's decision to award TRM Labs a roughly $94.6 million sole-source contract for blockchain forensic software and support, saying the agency acted in an "arbitrary, capricious, and unreasonable" manner. The one-year contract runs from July 1, 2026 through June 30, 2027 and supports Homeland Security Task Force investigations involving scams, cybercrime and sextortion. ICE said a roughly six-day market-research process found that none of eight respondents, including four small businesses, could match TRM's capabilities. TRM joined the case on July 28 to defend the award, while Chainalysis's core arguments remain sealed after the court allowed the complaint to stay under seal on July 31 because it contains confidential business information and trade secrets. Oral argument is set for Sept. 2 under an expedited schedule, and the government has asked for a decision by Sept. 10. The dispute highlights the growing value of federal crypto-tracing work as Chainalysis and TRM compete for a larger share of government investigations.