Cocaine is an alkaloid obtained from the leaves of the coca plant. It is a stimulant and an appetite suppressant. Because of its effects, its very addictive. Cocaine possession, cultivation, and distribution are illegal.
Cocaine can be mixed with things like baking soda to convert it from a powder into a more solid, smokable form. This variant is called crack.
After a drug bust, the Strike Team stole some bags of cocaine with the intention of using them for profit later. Officer Julien Lowe witnessed them and decided to testify against them. Also, the van with the cocaine was later stolen by Deena, who also testified against Shane Vendrell, who was driving the van. However, charges weren't filed when Julien recanted his testimony.
Jasper smuggled a shipment of drug through Customs and brought it to T.O. Osmond. During the deal, the Strike Team made sure everything went accordingly, as T.O. verified the cocaine. After he checked it was good, he took it.