The FBI arrested former Olympic snowboarder Ryan James Wedding in Mexico on Friday. He is accused of running a cocaine trafficking network that used the stablecoin Tether (USDT) to move proceeds from Colombia, through Mexico, into the United States.
Prosecutors say the scheme involved payments by QR code and included multiple killings tied to the operation. In late 2024, authorities seized one ton of cocaine, about $3.2 million in crypto, and several firearms linked to the group.
The U.S. Department of Justice charged Wedding in 2024 and the Treasury Department later sanctioned him, associates, and related entities, including a Toronto jewelry business alleged to be a laundering front. The FBI had offered a $10 million reward that was later raised to $15 million, and the agency says it is now transporting Wedding to the United States for trial (Ed. note: the reward’s role in the arrest remains unclear).
FBI Director Kash Patel commented on the arrest and the agency’s broader effort; “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,” he said. See the tweet where he made the remark and related links to a mentioned profile, plus an embedded market widget and an external file link.
