The US authorities moved a small quantity of bitcoin on April 10 from wallets that Arkham Intelligence linked to a felony case. The switch concerned 2.438 BTC, price about $177,000, despatched to a Coinbase Prime handle.
Abstract
- US authorities moved 2.438 BTC from seized wallets tied to an alleged steroid conspiracy case.
- Arkham linked the funds to Glenn Olivio, who confronted costs filed in 2025.
- The switch renewed concentrate on how seized bitcoin strikes underneath the federal reserve coverage.
Arkham information confirmed two separate transactions from wallets labeled “U.S. Government: Glenn Olivio Seized Funds.” Each transfers went to the identical Coinbase handle, starting with 3EMqu.
Authorities-linked bitcoin transfers usually are not uncommon. Federal companies typically transfer seized property for custody, consolidation, or different dealing with throughout authorized and administrative processes.
The most recent transfer nonetheless drew consideration as a result of the funds could also be tied to a 2025 federal case. The switch additionally comes after the Trump administration mentioned it had stopped promoting seized bitcoin.
That coverage grew to become clearer after President Donald Trump signed an govt order making a strategic bitcoin reserve. Treasury Secretary Scott Bessent later mentioned the federal government would hold bitcoin obtained by felony forfeitures.
The Block reported that the seized bitcoin seems linked to Glenn Bradford Olivio. Court docket information present Olivio was arrested in Might 2025 with Dana Rene Gentle.
Prosecutors charged the pair with 5 counts, together with conspiracy to own with intent to distribute managed substances, cash laundering conspiracy, aggravated id theft, and drug possession counts.
The indictment mentioned the case concerned “a mixture or substance containing a detectable amount of anabolic steroids.” The listed substances included artificial testosterone, Trenbolone, Nandrolone, Mestanolone, Oxandrolone, Stanozolol, and Methandienone.
Court docket filings additionally included a discover of forfeiture. That step is widespread when the federal government seeks to grab property, together with cryptocurrency, that it says got here from alleged felony exercise.
Reserve coverage stays in focus
The switch comes as federal bitcoin holdings stay underneath shut watch. The US authorities at the moment holds about 328,000 BTC, valued at greater than $22 billion at present market costs.
In current weeks, government-linked wallets additionally moved funds tied to different circumstances, together with property related to Ross Ulbricht, Chen Zhi, and Miguel Villanueva.
These earlier transfers raised questions on whether or not the federal government was nonetheless sending bitcoin to custodial platforms regardless of the reserve coverage. The most recent Olivio-linked switch is probably going to attract comparable consideration.
PACER exhibits the steroid case final up to date in June 2025. Public information reviewed by The Block didn’t affirm whether or not this case is said to an older 2015 marijuana arrest involving a person with the identical title.
