Cryptocurrency Managed Services

Background
The United States Department of Justice (DOJ), specifically the United States Marshals Service (USMS) Asset Forfeiture Division (AFD), is seeking to award a sole source contract for cryptocurrency management services. This action is justified under the Unusual and Compelling Urgency clause, allowing for procurement without full and open competition due to the urgent need for effective management of seized cryptocurrency assets. The contract aims to provide custody, management, and disposal services for cryptocurrency assets seized under the DOJ's Asset Forfeiture Program.

Work Details
The contract will encompass a full range of cryptocurrency custody services by an experienced custodian, including but not limited to: accounting, customer management, audit compliance, wallet creation and management, private encryption key generation and management, backup, and recovery of private encryption key material.

The contractor must ensure compliance with industry standards and provide necessary security measures as outlined in the Performance Work Statement (PWS). The urgency stems from the need to manage a growing inventory of seized cryptocurrency effectively while supporting ongoing criminal investigations.

Period of Performance
The period of performance for this contract is set at 18 months.

Place of Performance
The services will be performed at the contractor's facilities located at One Madison Avenue Suite 2400 & 2500, New York, NY 10010 USA.

Bidder Requirements
The contractor must possess a current Authorization to Use (ATU) designation required by the USMS to perform work without substantial interruption. Additionally, they must comply with Service Organization Controls (SOC) audit requirements and demonstrate experience in managing cryptocurrency assets securely. The contractor should also have capabilities to handle a wide range of cryptocurrency types and be recognized as a qualified custodian in the industry.

Incumbent Analysis (see Incumbents section for more detail)
This opportunity appears to have a confirmed incumbent based on prior USMS Asset Forfeiture Division (AFD) awards for “Cryptocurrency Managed Services” under 28 CFR 0.111, including contracts awarded to Coinbase (e.g., $8,128,125 for Class 2–4 assets with a period of 09/30/26–03/29/28). The prior work is described as mission-critical management of seized cryptocurrency remanded to USMS custody and aligns closely with the current requirement for custody and wallet/key management, accounting, and audit compliance for seized assets, suggesting continuity in scope and asset-class coverage.