US government moves bitcoin possibly linked to steroid distribution conspiracy
The Block
The U.S. government transferred approximately $177,000 in seized bitcoin, linked to a steroid distribution case, to a Coinbase Prime address.Summary
Data from Arkham Intelligence reveals that the U.S. government transferred 2.438 BTC, valued at roughly $177,000, from addresses associated with Glenn Olivio to a Coinbase Prime account. Olivio was indicted in 2025 alongside Dana Rene Light for a conspiracy involving the distribution of anabolic steroids and money laundering. This transaction aligns with the government's policy of holding seized cryptocurrency as part of a strategic bitcoin reserve, a move reaffirmed by Treasury Secretary Scott Bessent, rather than selling such assets.
(Source：The Block)