A wallet associated with US government seized assets on Friday moved 2.4 Bitcoin worth approximately $177,000 to Coinbase Prime, on-chain data shows.
According to Timechain Index, the funds trace back to assets seized in the Glenn Olivio case, which is tracked alongside other major confiscations like Silk Road.
The transfer comes amid ongoing efforts by US authorities to expand the Strategic Bitcoin Reserve established in March 2025, which has reached about 328,370 BTC through forfeiture-related holdings.
In the past, US agencies periodically sold confiscated Bitcoin rather than holding it.
This is a developing story. Please check back for further updates.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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