[Saitama Founder Loses UK Extradition Case, May Be Sent to the US for Trial] Odaily Planet Daily News – Saitama founder Manpreet Kohli lost his extradition case in the UK last week and faces being extradited to the US to stand trial on charges of wire fraud and market manipulation. Kohli was arrested in London in 2024, with US prosecutors accusing him and more than ten accomplices of falsely reporting holdings and purchases of Saitama tokens while secretly selling them for a profit of approximately $20 million. The token once had a market capitalization of $7.5 billion. On August 19, Judge Samuel Goozee dismissed Kohli's appeal against extradition and referred the case to the UK Home Secretary to decide whether to issue the extradition order. Kohli is currently out on bail for £200,000 and retains the right to appeal. Previously, a federal judge in Boston had rejected Kohli's motion to dismiss the charges on the grounds that Saitama tokens do not constitute securities. (Reuters)