According to a ChainCatcher report, the U.S. Federal Bureau of Investigation (FBI) has arrested former Olympic snowboarder Ryan Wedding in Mexico City. U.S. authorities accuse him of leading a transnational drug trafficking organization that extensively used cryptocurrencies and stablecoins for drug money settlement and money laundering. FBI Director Kash Patel stated that Wedding will be extradited to the U.S. to face multiple charges, including cocaine trafficking and murder. Wedding has been on the FBI's Ten Most Wanted Fugitives list since 2025, with a maximum reward of up to $15 million. U.S. prosecutors said the criminal network, in collaboration with Mexico's Sinaloa Cartel, transported hundreds of kilograms of cocaine from Colombia through Mexico and California to the U.S. and Canada. The U.S. Treasury Department previously noted that the group used multiple blockchains, including Bitcoin, Ethereum, Tron, Solana, and BNB Chain, for fund transfers involving stablecoin payments, exhibiting a multi-chain money laundering pattern. In 2024, the U.S. Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on Wedding, his associates, and shell companies, and froze multiple cryptocurrency addresses. Prosecutors also charged him with ordering the murder of an informant and planning multiple violent retaliatory actions related to drug trafficking.
FBI Arrests Former Olympian for Alleged Cocaine Trafficking Using Cryptocurrencies
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Summary
The FBI arrested former Olympian Ryan Wedding in Mexico City on allegations of cocaine trafficking using cryptocurrencies. Wedding, who has been on the FBI's Most Wanted list since 2025 with a $15 million reward, operated a network connected to Mexico's Sinaloa Cartel. U.S. prosecutors allege that the organization smuggled hundreds of kilograms of cocaine from Colombia into the U.S. and Canada. The U.S. Treasury has sanctioned Wedding and frozen cryptocurrency addresses on Bitcoin, Ethereum, and other major blockchains. He also faces murder charges related to his drug operations. The case underscores the role of cryptocurrency in illicit trade, even as major blockchain networks continue efforts to implement upgrades. News from the Federal Reserve this week indicated that stablecoins remain under close regulatory scrutiny.
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