Coinbase Signs New $1.36M Contract with US Customs Enforcement Agency

Coinbase has inked its second deal to develop software for the U.S. Immigration and Customs Enforcement agency since August. Read the full article by: Martin Young

Key Points:

• Coinbase has signed a deal with the Department of Homeland Security to provide them with “application development software as a service”. As of September 16th the deal was finalized with $455,000 and the second since signing a deal with ICE earlier this year.

• The crypto community is not all that thrilled about the recent partnerships Coinbase is making to give information to the government for such a small amount of money. Kraken CEO, Jesse Powell, said in a tweet that it is “Even more bizarre is the acquisition they made and reputational hit they took to be able to offer this service to the government.”

• Coinbase is still in the middle of a situation with the SEC as well. They could just want to show they are willing to do everything to stay compliant with regulations; however, that will come at a price of losing the trust of some users.