Coinbase's New Deal Caused Controversy

Coinbase's new deal caused controversy. Coinbase has signed another contract with a US government.

When Coinbase, one of the world's largest cryptocurrency exchanges, signed a contract with another US government agency, this also caused controversy, like the previous ones. The Immigration and Customs Enforcement Administration, which is affiliated with the US Department of Homeland Security, signed a contract with Coinbase for $ 1.36 million. It is stated that the agreement in question is Coinbase's largest federal business deal to date. With this agreement, Coinbase will license the company's blockchain analysis software to the ministry. Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation (HRS) and a Bitcoin advocate, said: "Coinbase has made its biggest deal ever with the feds and has signed a $1.36 million contract to provide financial surveillance software to ICE. Why? If we look at the big picture, this money is not so much for Coinbase. It's strange that they're risking their reputation so much for such a small amount." Coinbase has made similar collaborations with various US institutions before and continues to do so. Last year, it was also revealed that the company sold the same software to the US Secret Service. Brian Armstrong, Coinbase CEO, said, “Blockchain analysis software is nothing new. It has been around for a long time. These software often use public data to monitor cryptocurrency transactions to catch bad actors.”