A British-based cryptocurrency executive wanted in the US on wire fraud and market manipulation charges could be extradited to the US to stand trial after losing his legal challenge against being sent there. Manpreet Kohli, a 45-year-old Indian national and former chief executive of cryptocurrency company Saitama, was arrested in London in 2024 after US prosecutors accused him and more than a dozen others of carrying out widespread fraud.

Saitama promoted a token on the Ethereum blockchain that at one point reached a market value of $7.5 billion. Prosecutors alleged that Kohli and his co-conspirators publicly claimed to be buying and holding Saitama tokens while privately selling them for millions of dollars in profit. Kohli is alleged…