TechFlow News, Lin Chen, Head of APAC Business at Deribit, stated that the U.S. Department of Justice (DOJ) has signed a fund custody and processing contract with Coinbase worth $32.25 million.
Based on an estimated 2% cost per fund disbursement, the DOJ likely has around $1.6 billion in crypto assets to manage.
Chen humorously remarked that the DOJ has become a top-tier asset management firm in the crypto space, revealing that the department's largest revenue streams this year have come from cryptocurrency-related activities, with its internal team undergoing significant expansion. The U.S. Department of Justice has now emerged as a key player and pillar within the cryptocurrency industry.
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