US Marshals Service Awards $32.5M Crypto Custody Contract to Coinbase Prime

Coinbase Prime to manage and dispose of large-cap digital assets seized by law enforcement, despite ongoing legal challenges.

The United States Marshals Service selected Coinbase Prime after a competitive evaluation process.
The contract, valued at $32.5 million, involves custody and trading services for large-cap cryptocurrencies.
Coinbase Prime will handle storage and liquidation of seized digital assets under a five-year agreement.
This partnership continues Coinbase's longstanding relationship with law enforcement agencies, dating back to 2014.
Coinbase's stock rose nearly 6% following the announcement of the DOJ contract.