Cryptocurrency Managed Services

The Department of Justice's U.S. Marshals Service has awarded contract 15M50026DA4400052 on a sole-source basis under a limited sources justification for Cryptocurrency Managed Services, effective September 30, 2026, with no set-aside used. The notice does not name the vendor or amount, but the attached justification summary identifies Coinbase Inc. as the awardee, a firm-fixed-price IDIQ with an estimated total value of $8.1 million over 18 months. The Asset Forfeiture Division is the requiring office, and the justification cites unusual and compelling urgency under FAR 6.103-2 and 41 U.S.C. 3304(a)(1). The urgency followed a January 23, 2026 Stop Work notice on the prior Class 2-4 contract with Command Services and Support (CMDSS) Inc., issued after an employee allegedly stole at least $46 million in seized cryptocurrency.

The requirement covers custody, management, and disposal of Class 2-4 cryptocurrency seized and forfeited under the Department of Justice Asset Forfeiture Program, the Treasury Executive Office for Asset Forfeiture, and other federal agencies with related law enforcement missions. Services include wallet creation and management, private encryption key generation and management, backup and recovery of key material, accounting, customer management, and audit compliance.

The justification identifies Coinbase as the only current holder of the USMS Authorization to Use (ATU) designation, and states that Coinbase holds SOC 1 Type 2 and SOC 2 Type 2 audits, fiduciary and qualified custodian status, and support for all required cryptocurrency types. Market research conducted in May and June 2026 found no alternative vendor with the same integrated capability and immediate implementation capacity. The contracting officer determined costs fair and reasonable based on historical Class 1 and Class 2-4 contract data, current market conditions, and an Independent Government Cost Estimate. The USMS plans to re-compete the requirement during the contract term, with a solicitation process of approximately 12 months, and the sole-source contract will end if another offeror wins the competitive award.