In brief
- The FBI arrested former Olympic snowboarder Ryan James Wedding, who’s accused of running a crypto-backed cocaine trafficking operation.
- Prosecutors say his network used Tether (USDT) to move drug proceeds across borders.
- Wedding is now being brought to the U.S. from Mexico to face trial.
The FBI announced Friday that it has arrested Ryan James Wedding, a wanted fugitive and former Olympic snowboarder accused of operating a drug-smuggling empire backed by crypto.
Wedding, a Canadian national, was accused in 2024 by the U.S. Department of Justice of managing a cocaine trafficking operation running from Colombia, through Mexico, and into the United States. Wedding and his business partners also orchestrated numerous murders as part of that operation, the prosecutors alleged.
The DOJ and the Treasury Department have claimed that Wedding and his employees relied on the stablecoin Tether (USDT) to fuel their activities. Drug runners would use QR codes to receive payment for cocaine in USDT, the complaint against Wedding alleged.
The former snowboarder, who represented Canada at the 2002 Winter Olympics, was long thought to be hiding in Mexico. After more than a year of pursuit, Wedding was arrested in the country last night, FBI Director Kash Patel said Friday.
“This is a huge day for a safer North America, and the world, and a message that those who break our laws and harm our citizens will be brought to justice,” Patel said.
The FBI director added that Wedding is currently being transported by the FBI to the United States to face trial.
In late 2024, the DOJ seized one ton of cocaine, $3.2 million worth of crypto, and multiple firearms connected to Wedding and his alleged drug running scheme.
Shortly thereafter, the Treasury Department sanctioned the ex-Olympian, several of his associates, and related entities. Those included a Toronto jewelry business which the Treasury Department claimed was used as a front to launder crypto earned from cocaine sales.
Capturing Wedding, one of the FBI’s top 10 most wanted fugitives, has long been an agency priority. The FBI first offered a $10 million reward for information leading to the fugitive’s arrest. That amount was later raised to $15 million.
It’s not yet clear if information from the bounty program led to Wedding’s arrest, or if the cash reward will be paid. An FBI spokesperson did not immediately respond to Decrypt’s request for comment on the matter.
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