Do business with the government? Cryptocurrency platform Coinbase has signed a $180,000 contract with the U.S. Secret Service

According to The SECRET Service's website, cryptocurrency trading platform Coinbase is providing blockchain analysis software to the agency. The Secret Service signed a four-year contract in May to use Coinbase's blockchain Analytics software, called Coinbase Analytics, records show. The contract has a total value of $183,750 and is valid until May 9, 2024. & have spent

In addition to protecting the nation's top leaders, the Secret Service, which is part of the Department of Homeland Security, investigates financial crimes.

It follows news that public records show Coinbase wants to sell its blockchain analysis software to the U.S. government. The DEA and IRS have expressed interest in buying licenses for Coinbase Analytics from Coinbase, two documents released in April and May, though the agencies haven't yet signed contracts with Coinbase.

However, the message drew a backlash from the encryption community, with many concerned about the data being turned over to government agencies, despite Coinbase's claims that its Data from Coinbase Analytics was not Shared with data inside the Coinbase platform.

Further reading:Coinbase's Plan to sell data from its analytics platform to US government agencies sparks Backlash from the encryption community

The original link: https://www.theblockcrypto.com/post/71261/coinbase-is-selling-blockchain-analytics-software-to-the-us-secret-service? uTm_source = cryptopanic& Utm_medium = RSS

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