U.S. Marshals Service chooses Coinbase to safeguard, trade its large cap digital assets portfolio
TL; DR: After a comprehensive process, the U.S. Marshals Service (USMS), a division of the U.S. Department of Justice, selected Coinbase Prime as its partner to safeguard and trade its “Class 1” (large cap) digital assets.
Today, the U.S. Marshals Service (USMS), an agency within the U.S. Department of Justice that is responsible for asset forfeiture, announced that it selected Coinbase Prime to provide custody and advanced trading services for the agency’s “Class 1” (large cap) digital assets, which it manages centrally in support of federal law enforcement. The USMS conducted a competitive due diligence process that evaluated a range of solutions, ultimately choosing Coinbase due to our strong track record and ability to securely provide institutional-grade crypto services at scale.
Coinbase has a longstanding history of supporting law enforcement agencies, dating back to the founding of our law enforcement program in 2014. Today, Coinbase works with every major U.S. federal, state, and local law enforcement agency, as well as international agencies on every continent. Growing the cryptoeconomy means promoting safe and efficient markets, and these partnerships are critical to our mission.
Coinbase Prime is a commercially and publicly available service. Since launching nearly three years ago, Prime has become the platform-of-choice for institutions and large holders of digital assets, including being the primary partner for a vast majority of the spot crypto ETFs. As of March 31, 2024, Coinbase safeguarded $330 billion of assets. Coinbase recorded $256bn in institutional trading volume in Q1 2024.
Here’s why institutions trust Coinbase to safeguard assets.
About Brett Tejpaul and Greg Tusar
Brett Tejpaul serves as Head of Coinbase Institutional, where he is in charge of expanding Coinbase’s institutional client base, introducing new features and services that institutional investors expect, and continuing to educate the institutional community about crypto. Prior to Coinbase, Brett served as the Global Head of Sales at Barclays and held leadership roles at JP Morgan. Brett received his Bachelor of Science degree from Boston College.
Greg Tusar serves as VP, Institutional Product for Coinbase, leading the firm’s efforts in areas like Prime Brokerage and Custody, Financing, and Coinbase Exchange. Greg joined Coinbase when the company acquired Tagomi Systems, where he was co-founder and CTO. Before Tagomi, Greg was Head of Global Execution Services and Platforms at KCG Holdings, and spent 13 years at Goldman Sachs, most recently as a Partner and global head of the firm’s equities electronic trading business.
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