US Government Transfers 2.44 BTC in Seized Funds to Coinbase Prime, Strengthening Strategic Bitcoin Reserve

The United States (US) government recently moved approximately 2.44 Bitcoin (BTC), valued at roughly 177,000 USD (approximately 2.9 billion IDR, depending on current exchange rates), from seized assets to a Coinbase Prime address. The transfer occurred on April 10, 2026, in two separate transactions and was immediately detected by crypto analytics firm Arkham Intelligence. This movement marks the first activity from US government wallets in over a month.

Asset details and source of Bitcoin

The transferred funds originate from a 2025 criminal case involving Glenn Olivio, an individual indicted in connection with illegal steroid distribution and money laundering. The involved wallet has been labeled by Arkham as “U.S. Government: Glenn Olivio Seized Funds,” confirming that the 2.44 BTC is part of Bitcoin assets seized by law enforcement.

Rather than selling these assets on the open market, the government chose to move them to the institutional custodian platform Coinbase Prime, which is frequently used to secure and manage crypto assets for large institutions. This transfer is technically administrative—a consolidation of custody and risk management structuring—rather than a dramatic buy-sell move.

Strategic Bitcoin Reserve Policy

This movement occurs within the context of a broader macro policy: the Strategic Bitcoin Reserve (SBR). Since President Donald Trump signed an executive order in March 2025, the US government has ceased the routine sale of seized Bitcoin previously conducted by the US Marshals Service. Seized crypto assets are now diverted into the nation's strategic reserve and held as part of a long-term portfolio instead of being released to the market.

According to Arkham Intelligence data as of April 2026, the US government is estimated to hold approximately 328,000 BTC, equivalent to over 22 billion USD. In this consolidation process, Coinbase Prime serves as the primary custodian for many government-owned wallets, including assets from major cases such as Ross Ulbricht, Chen Zhi, and Miguel Villanueva.

Implications for the crypto market

In nominal terms, 2.44 BTC or 177,000 USD is a minor movement compared to the government's total holdings of hundreds of thousands of BTC. From a liquidity standpoint, this transfer does not create immediate selling pressure on the market. However, psychologically, the Strategic Bitcoin Reserve policy helps alleviate market concerns regarding massive sell-offs of seized assets, which for years frequently triggered BTC price volatility.

With a focus on consolidation and storage, the US government appears to be increasingly positioning itself as one of the world's largest Bitcoin holders. The transfer to Coinbase Prime, including this April 10 transaction, underscores that the US is building a long-term crypto management infrastructure—managing proceeds from the criminal world without automatically flooding the market with asset sales.

Published by Coinplurk.com