The U.S. Marshals Service awarded Coinbase Prime a $32.5 million contract.

The contract is for handling custody and trading services for seized large-cap digital assets, known as 'Class 1' assets.

This decision followed a competitive process, highlighting Coinbase's institutional-grade service capabilities.

Despite ongoing legal battles with the SEC, Coinbase has a history of supporting law enforcement.

The announcement led to a 6% increase in Coinbase's stock price.

The partnership aims to streamline the custody, management, and disposal processes for cryptocurrency assets under Government forfeiture programs.

This emphasizes Coinbase's role in managing significant assets and institutional trading volume in the digital asset market.