The Coast Guard's Base Los Angeles/Long Beach said it suspended its efforts "after 16.5 hours of searching with multiple rescue assets covering 70 square nautical miles and seven search patterns."
Gaspard was among several swimmers who got caught up in strong rip current Sunday near the 4200 block of South Ocean Front Walk, prompting Los Angeles County lifeguards to rescue a 10-year-old boy who is believed to be Gaspard's son.
Lifeguards rescue 10-year-old boy from waters in Venice Beach, father remains missing
The boy was described as being in good shape after being pulled from the water. He was not hospitalized.
The elder Gaspard on Sunday "was last seen by a Los Angeles County lifeguard about 3:40 p.m. as he swam in the ocean about 50 yards from Venice Beach," a Los Angeles Police Department statement said. "When last seen by the lifeguard, a wave had crashed over (him) and he was swept out to sea.''
Gaspard was a star with World Wrestling Entertainment, making up one half of the tag team Cryme Time with his partner JTG.
On Monday, his wife, fitness trainer and nutritionist Siliana Gaspard, pleaded for help finding her husband, posting two photos of him on Instagram and saying he'd been missing since Sunday at the beach.
Shad Gaspard is described as black, 6 feet 7 inches tall, weighing 265 pounds, with tattoos on his right shoulder and left chest.
Anyone with information on his whereabouts is urged to call the LAPD's Missing Persons Unit at (213) 996-1800.