Saitama chief executive Manpreet Kohli faces possible extradition to the United States after Judge Samuel Goozee on August 19 rejected his U.K. challenge and referred the case to British ministers. U.S. prosecutors charge the 45-year-old Indian national with wire fraud and cryptocurrency market manipulation tied to the Ethereum-based Saitama token, which once reached a reported $7.5 billion market capitalization, alleging he made about $20 million while promoters publicly claimed to buy or hold tokens as they privately sold. The matter sits within Operation Token Mirrors, in which the FBI created NexFundAI to probe wash trading and fake volume, bringing charges involving 18 individuals and entities and seeking to seize about $25 million in cryptocurrency. Gotbit admitted wash-trading for clients including Saitama, with founder Aleksei Andriunin sentenced to eight months and about $23 million ordered forfeited; CLS Global was fined $428,000 over NexFundAI. Saitama associates Russell Armand and Maxwell Hernandez pleaded guilty, a Boston judge refused to dismiss Kohli’s indictment, and the SEC filed a related civil action. Kohli remains free on £200,000 bail and can appeal; the charges are unproven.