$177,400 in Bitcoin from a steroid case moves to Coinbase Prime — a small transfer, but a signal the government’s crypto sales machine may be restarting

The US Government transferred $177,400 in Bitcoin to Coinbase Prime. The funds came from wallets linked to the 2025 Glenn Olivio case, in which he and co-conspirator Dana Rene Light were indicted for steroid distribution and money laundering. Two transactions were recorded: 0.46 BTC ($33,440) and 1.979 BTC ($143,940), both sent to the same Coinbase Prime deposit address within the same session. This marks the government’s first on-chain Bitcoin movement in over a month. Coinbase Prime functions as a custodial bridge for seized cryptocurrency ahead of potential liquidation. Transferring assets there is a necessary step before any sale through regulated channels, though it does not confirm one is imminent. The government currently holds $24.4 billion in crypto across 610 identified addresses, the vast majority in Bitcoin. Previous small transfers to Coinbase Prime have preceded larger liquidation events. This movement, while too small to impact the market, reactivates scrutiny over whether the government is preparing for a broader phase of crypto asset sales.