A new one has been added to the million dollar deals between Coinbase, the largest cryptocurrency exchange in the US, and the Immigration and Customs Enforcement (ICE) unit of the US National Security Service, That deals with cross-border crime and illegal immigration.
The US government paid Coinbase $ 1.36 million for the use of the Coinbase Analytics software license.
Under the agreement, Coinbase Analytics will make public blockchain data available to the government to analyze information from US citizens.
There is no clarity in the official documents on what information Coinbase will share or analyze.
However, Coinbase CEO Brian Armstrong stated that they guarantee that Coinbase Analytics will not provide any information other than publicly available information on the blockchain.
Similar collaborations have been made between Coinbase and the US government before. In addition to the US Drug Enforcement Administration and the Internal Revenue Service, the US Secret Service also uses Coinbase Analytics.
A $ 183,750 deal was made with the Secret Service that would last until May 2024.
Although Coinbase has faced much criticism for its cooperation with the United States government, the CEO of the company expressed that he does not regret the agreements made with law enforcement.
Contrary to these negative reviews, Armstrong claims that making these deals is really positive for the growth of his company and there is nothing to fear for Coinbase customers.