Bitcoin Latinum (LTNM) / Donald Basile
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anchored·2iGfoW…qst4Summary
Bitcoin Latinum (LTNM) is a cryptocurrency token launched in 2020 by Donald G. Basile through his companies GIBF GP, Inc. and Monsoon Blockchain Corporation. In April 2026, the U.S. Securities and Exchange Commission charged Basile with orchestrating a $16 million investor fraud scheme, alleging he raised funds through Simple Agreements for Future Tokens (SAFTs) using fabricated insurance coverage claims and nonexistent asset-backing structures, then diverted millions to personal expenses. The token, which peaked near $9,336 in December 2021, has since collapsed to near zero, and multiple civil lawsuits from defrauded investors preceded the SEC action.
Connected Entities
8 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Bitcoin Latinum (LTNM) / Donald Basile→mentioned with→Bitcoin(60%)
- Donald Basile→mentioned with→Ethereum(60%)
- Bitcoin Latinum (LTNM) / Donald Basile→mentioned with→Binance(60%)
- Bitcoin Latinum (LTNM) / Donald Basile→mentioned with→Ethereum(60%)
- Donald Basile→mentioned with→Bitcoin(65%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Bitcoin(75%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Ethereum(60%)
- Binance→mentioned with→Ethereum(65%)
- Bitcoin Latinum→mentioned with→Ethereum(65%)
- + 19 more
Timeline(15 events)
2019
Donald Basile founds Monsoon Blockchain Corporation.
2020
Bitcoin Latinum (LTNM) project launched by Basile through GIBF GP, Inc. and Monsoon Blockchain.
March 2021
Basile begins selling SAFTs to investors, raising approximately $16 million through December 2021, according to the SEC complaint.
June 2021
Basile allegedly holds a fundraising meeting with investor Arshad Assofi and makes multiple false representations including Star Trek investment claim, Dubai ATM investor claim, and assertion that LTNM is insured by Marshall McKellan.
October 2021
Phil Hellmuth begins appearing as paid endorser of Bitcoin Latinum, wearing LTNM-branded cap at WSOP events.
19 December 2021
LTNM pre-sale token reaches all-time high of approximately $9,335.81.
December 2021
GENESIS crypto gala held in Miami during Art Basel, sponsored by Bitcoin Latinum, featuring Phil Hellmuth and live performances by Quavo and Tory Lanez.
February 2022
Raymond Jonna, Simon Jonna, and Farid Jamardov file civil lawsuit (Case 2:22-CV-10208) in Eastern District of Michigan alleging securities fraud, wire fraud, and fraudulent conversion against Bitcoin Latinum and Kevin Jonna over approximately $540,000 in losses.
5 February 2022
Forbes journalist Cyrus Farivar publishes article headlined 'A Cryptocurrency Named After The Fictional Money In Star Trek Is Worthless And A Scam, New Lawsuit Alleges.'
14 November 2022
Investor Arshad Assofi files civil lawsuit in Central District of California alleging fraud on $15,555,329 in investment payments to Basile and GIBF GP, Inc.
16 January 2023
LTNM token reaches all-time low of approximately $0.0174, down over 99.99% from December 2021 peak.
7 February 2024
Bitcoin Latinum files defamation lawsuit in Delaware against journalist Cyrus Farivar over his 2022 Forbes article; legal observers characterize it as a SLAPP suit filed past the statute of limitations.
June 2024
U.S. District Judge Laurie J. Michelson denies Bitcoin Latinum's motion to compel arbitration in the Jonna et al. case, finding the company waived arbitration rights through two years of active litigation.
14 May 2025
U.S. Court of Appeals for the Sixth Circuit affirms denial of Bitcoin Latinum's arbitration bid in Jonna et al. v. GIBF GP, Inc. (Case No. 24-1537), finding plaintiffs were never aware of or consented to the arbitration clause.
17 April 2026
SEC files complaint against Donald G. Basile, GIBF GP, Inc., and Monsoon Blockchain Corporation in the Eastern District of New York alleging $16 million investor fraud through false SAFT offerings, fabricated insurance claims, and misappropriation of funds for personal use including real estate, credit card payments, and a $160,000 horse.
Decision Log
- slot 445507067 · hash HRx2FFb3NuWi8RbVA9c3pipGwaw1yJ9GhE1ST7mixhZa
- slot 426256331 · hash GEEqqfyxT7KMGFcRKj2igT4TA3wuiU1m5JrbWLAo1sBT
- slot 426256327 · hash 8xLP4oUvkfMYWg2cU9iRDDyAL8qpYZdupd5FsDWzTHfj
- slot 422641444 · hash 3vcJ3PCUiPWFWBhPUstjnYyvYmshuwwX5LmakFWs56LJ
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 12 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/28/2026, 3:47:48 AM
last updated: 8/29/2026, 1:33:06 AM
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