U.S. transfers seized bitcoin to Coinbase Prime; reserve $22B

The U.S. transferred seized bitcoin to a Coinbase Prime account, bringing federal holdings to about 328,372 BTC, worth roughly $22.45 billion, according to Arkham Intelligence data. The transfers reflect continued consolidation of seized coins into custodial accounts.

Blockchain records and sources familiar with the transactions show about 2.438 BTC, valued at roughly $177,000, seized from Glenn Olivio were moved in two transfers to a Coinbase Prime address starting with 3EMqu. Separately, three small transfers from a wallet labeled “Miguel Villanueva Seized Funds” totaled 0.3348143 BTC, about $22,877 at current market prices.

Arkham’s ledger lists the federal bitcoin stockpile at about 328,371.99 BTC. Records also show earlier consolidations, including about 57.55 BTC moved to Coinbase Prime on Nov. 3, 2025, and 1,320.24 BTC on Oct. 14, 2025 tied to wallets labeled “Potapenko/Turogin Forfeited Funds.”

Treasury Secretary Scott Bessent, speaking at the World Economic Forum in Davos, said the administration will stop selling confiscated bitcoin and add seized coins to the Strategic Bitcoin Reserve created by a 2025 executive order. He told journalist Christine Lee seized bitcoin “would be retained by the federal government following legal proceedings, rather than auctioned off as in the past.”

The Olivio transfers are likely linked to Glenn Bradford Olivio, who was arrested in May 2025 with co-defendant Dana Rene Light. Court documents charge the pair with conspiracy to distribute substances containing anabolic steroids, money laundering conspiracy, aggravated identity theft and drug possession; the indictments included forfeiture notices.

Independent blockchain investigator ZachXBT has alleged that roughly $40 million in crypto was moved out of government-controlled seizure wallets and tied the activity to a manager in the government’s digital forfeiture program. Federal officials have not publicly confirmed those allegations.

Officials declined to comment on ongoing investigations or litigation connected to the recent transfers.