FBI Offers $10 Million for Ex-Olympian Drug Lord as Tether Stocks Plunge

The FBI has placed a $10 million bounty on former Olympic snowboarder Ryan Wedding, who is accused of running a transnational drug syndicate. Wedding, a former Canadian athlete, is alleged to have used cryptocurrency, specifically Tether (USDT), to launder money from cocaine and fentanyl trafficking operations. The FBI's move comes as part of an intensified effort to apprehend Wedding, who is believed to be hiding in Mexico under the protection of the Sinaloa cartel.

Wedding's alleged criminal activities first came to light in October 2024 when the Department of Justice filed charges against him and 15 other defendants. The indictment claims that Wedding led a drug trafficking syndicate that moved cocaine from Colombia through Mexico and into the United States and Canada. Federal authorities allege that Wedding smuggled hundreds of kilograms of cocaine and fentanyl, using violence to protect his business interests across North America.

A key aspect of the case involves Wedding's alleged use of cryptocurrency. Prosecutors claim he used Tether (USDT) to launder money from drug sales, bypassing traditional banking systems. This method allowed him to move funds more discreetly, highlighting a growing trend of criminal organizations using stablecoins for illicit activities. A November report indicated that Mexican drug cartels, including the Sinaloa cartel, increasingly rely on Tether to move money across borders.

Wedding's operation allegedly turned violent when faced with obstacles. Along with co-conspirator Andrew Clark, Wedding is accused of ordering multiple murders. One such incident targeted a family in Ontario in 2023. These violent acts were reportedly carried out to eliminate threats to their drug business. While Clark has been arrested in Mexico, Wedding remains at large, believed to be hiding under the protection of the Sinaloa cartel.

The consequences for Wedding if captured will be severe. He faces a mandatory minimum penalty of life in federal prison if convicted of running a continuing criminal enterprise. Additional murder and attempted murder charges carry minimum sentences of 20 years. Drug trafficking charges could add 10 to 15 more years to his sentence. Beyond the State Department’s $10 million reward, the FBI has added their own $50,000 bounty, bringing the total potential reward for information leading to Wedding’s capture to over $10 million.

This case underscores the increasing focus of authorities on crypt