← Bitcoin Latinum (LTNM) / Donald Basilereviewed 2026-09-07 · 30 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Bitcoin Latinum (LTNM) / Donald Basile against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed
4 claimsThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #20[disputed][awaiting moderator]in section: Background: Donald G. Basile
“He also served as CEO of Violin Memory (NYSE: VMEM) from 2009 to 2014, leading the company through a public listing.”
reviewerBasile served as CEO of Violin Memory (NYSE: VMEM) from 2009 to 2014, leading the company through a public listingThe page's cited Wikipedia source gives 2009-2014, but three independent contemporaneous 2013 reports (VentureBeat, AllThingsD, and Bloomberg coverage of the same event) establish that Basile was fired as CEO in December 2013, not 2014. He did lead the company through its September 2013 IPO.Proposed correction (not yet applied)He also served as CEO of Violin Memory (NYSE: VMEM) from 2009 until his termination by the board in December 2013, leading the company through a public listing. - #22[disputed][awaiting moderator]in section: Background: Donald G. Basile
“He entered the blockchain space around 2015–2016 and founded Monsoon Blockchain Corporation in Palo Alto, California as the development entity for Bitcoin Latinum.”
reviewerBasile entered the blockchain space around 2015-2016 and founded Monsoon Blockchain Corporation in Palo Alto as the development entity for Bitcoin LatinumThis sentence implies Monsoon Blockchain Corporation was founded around 2015-2016, but the page's own timeline entry (timeline[0]) states Basile founded Monsoon Blockchain Corporation in 2019 -- an internal contradiction. Business-registry aggregators found in search suggest a founding date closer to 2018, but none could be directly fetched and confirmed, so the correction proposed here reconciles the section text with the page's own more specific timeline entry rather than asserting an externally-sourced date.Proposed correction (not yet applied)He entered the blockchain space around 2015–2016 and founded Monsoon Blockchain Corporation in Palo Alto, California in 2019 as the development entity for Bitcoin Latinum. - #28[disputed][awaiting moderator]in the timeline
“2022-02-05”
reviewerForbes journalist Cyrus Farivar published the article 'A Cryptocurrency Named After The Fictional Money In Star Trek Is Worthless And A Scam, New Lawsuit Alleges' on February 5, 2022The page attaches the wrong date to Farivar's article. February 5, 2022 belongs to a separate Poker.org article by Haley Hintze about a different lawsuit; Farivar's Forbes article carrying this exact headline was published November 30, 2022.Proposed correction (not yet applied)2022-11-30 - #29[disputed][awaiting moderator]in the timeline
“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.”
reviewerBitcoin Latinum's February 7, 2024 defamation suit against Cyrus Farivar over his 2022 Forbes article has been characterized by legal observers as a SLAPP suit filed past the statute of limitationsThe statute-of-limitations/SLAPP characterization applies to the separate lawsuit against Haley Hintze, not to the Farivar suit described in this entry. This is the same underlying Farivar/Hintze conflation as the timeline[8] date error.Proposed correction (not yet applied)Bitcoin Latinum files defamation lawsuit in Delaware against journalist Cyrus Farivar over his 2022 Forbes article; a companion suit filed the same day against journalist Haley Hintze over a February 2022 Poker.org article has been characterized by legal observers as a SLAPP suit filed past the statute of limitations.
unverifiable
1 claimNo source the reviewer could reach confirms or contradicts the claim.
- #27[unverifiable][awaiting moderator]in section: Marketing Practices and Celebrity Endorsements
“None of those ATM targets were achieved.”
reviewerNone of the OSO ATM installation targets were achievedNo source was found that explicitly states zero or near-zero ATMs were installed; this appears to be an inference rather than an independently reported fact.
partially supported
2 claimsThe cited evidence supports part of the claim but not all of it.
- #26[partially supported][awaiting moderator]in section: Marketing Practices and Celebrity Endorsements
“The project also announced a three-year ATM deployment partnership with OSO ATMs in October 2021, claiming plans to install up to 100,000 LTNM ATMs across all 50 U.S. states, with a target of 25,000 installations by January 2022.”
reviewerIn October 2021 the project announced a three-year ATM deployment partnership with OSO ATMs to install up to 100,000 LTNM ATMs across all 50 states, targeting 25,000 by January 2022The 100,000-ATM and 25,000-by-January-2022 figures are confirmed. The 'three-year' characterization matches the press release's own headline, but the release's body text describes a 5-year term, so the underlying source is itself internally inconsistent on partnership length. - #30[partially supported][awaiting moderator]in the timeline
“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.”
reviewerThe Sixth Circuit affirmed denial of Bitcoin Latinum's arbitration bid on May 14, 2025 (Case No. 24-1537), finding plaintiffs were never aware of or consented to the arbitration clauseDate and case number are confirmed. The lack-of-consent rationale is one of two grounds cited in reporting on the ruling, but the entry omits that waiver through extended litigation conduct was an equally or more prominently discussed basis for the affirmance, which somewhat understates the full holding.
confirmed
23 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in the summary
“Bitcoin Latinum (LTNM) is a cryptocurrency token launched in 2020 by Donald G. Basile through his companies GIBF GP, Inc. and Monsoon Blockchain Corporation.”
reviewerBitcoin Latinum (LTNM) launched in 2020 by Donald G. Basile through GIBF GP, Inc. and Monsoon Blockchain CorporationConsistent with SEC complaint and independent reporting on the entities' role in the offering. - #2[confirmed][no action needed]in the summary
“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.”
reviewerIn April 2026 the SEC charged Basile with a $16 million fraud scheme using SAFTs, fabricated insurance, fake asset-backing, and diversion of funds to personal expensesIndependently corroborated by SEC litigation release and multiple contemporaneous news reports. - #3[confirmed][no action needed]in the summary
“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.”
reviewerLTNM peaked near $9,336 in December 2021 and has since collapsed to near zero; multiple civil lawsuits preceded the SEC actionATH figure and pre-existing civil litigation both independently corroborated. - #4[confirmed][no action needed]in section: SEC Civil Fraud Action (April 2026)
“On April 17, 2026, the U.S. Securities and Exchange Commission filed a civil fraud complaint in the United States District Court for the Eastern District of New York (Case No. 1:26-cv-02293) against Donald G. Basile, GIBF GP, Inc., and Monsoon Blockchain Corporation.”
reviewerSEC filed a civil fraud complaint on April 17, 2026 in EDNY, Case No. 1:26-cv-02293, against Basile, GIBF GP, and Monsoon BlockchainCase number, court, date and defendants all verified against the SEC's own litigation release. - #5[confirmed][no action needed]in section: SEC Civil Fraud Action (April 2026)
“The complaint alleges violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. Aiding-and-abetting charges were brought against Basile personally in connection with his controlled entities.”
reviewerThe complaint alleges violations of Securities Act Section 17(a), Exchange Act Section 10(b) and Rule 10b-5, plus aiding-and-abetting charges against Basile in connection with his controlled entitiesBoth the primary charges and the aiding-and-abetting component were independently corroborated. - #6[confirmed][no action needed]in section: SEC Civil Fraud Action (April 2026)
“The enforcement action was led by attorneys Brockett, Flath, and Rodriguez, supervised by Jack Kaufman of the SEC's New York Regional Office.”
reviewerThe action was led by attorneys Brockett, Flath and Rodriguez, supervised by Jack Kaufman of the SEC's New York Regional OfficeAttorney names, supervisory role, and regional office all confirmed by two independent sources. - #7[confirmed][no action needed]in section: SEC Civil Fraud Action (April 2026)
“Remedies sought include permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, civil monetary penalties, a conduct-based injunction barring Basile from future securities offerings, and a lifetime officer-and-director bar preventing Basile from serving in any public company leadership role.”
reviewerRemedies sought include permanent injunctions, disgorgement with prejudgment interest, civil penalties, a conduct-based injunction, and a lifetime officer-and-director barConfirmed directly against the SEC litigation release. - #8[confirmed][no action needed]in section: The SAFT Offering and Fraudulent Representations
“The SEC also alleges that Basile commissioned a social media campaign on Telegram and Twitter described internally as 'Mega-Shilling,' designed to generate 500 to 700 original posts per day amplifying these claims.”
reviewerBasile commissioned a 'Mega-Shilling' social media campaign on Telegram and Twitter designed to generate 500 to 700 original posts per dayThe specific post-volume figure was independently confirmed against the cited source's direct quote of the marketing package. - #9[confirmed][no action needed]in section: Phantom Insurance Claims
“Basile allegedly described LTNM as 'the world's first insured digital asset' with 'up to $1 billion coverage.'”
reviewerBasile described LTNM as 'the world's first insured digital asset' with 'up to $1 billion coverage,' naming Marsh McLennan / Marsh Asia in a November 2020 press releaseBoth the exact quoted language and the November 2020 Marsh Asia press release were independently located and match the page's characterization. - #10[confirmed][no action needed]in section: Phantom Insurance Claims
“According to the SEC, however, no insurance company ever issued any policy for LTNM, and no coverage was ever in place at the time Basile was selling SAFTs during 2021.”
reviewerNo insurance company ever issued a policy for LTNM and no coverage was ever in place during the 2021 SAFT salesDirectly confirmed by the SEC's own litigation release language. - #11[confirmed][no action needed]in section: Fictitious Asset Backing and Trust Fund
“Basile allegedly told investors that 80% or more of SAFT offering proceeds would be 'used to support the underlying value' of LTNM or placed 'into an underlying fund.'”
reviewerBasile claimed 80% or more of SAFT proceeds would support LTNM's value via a trust holding Bitcoin and Ethereum, but no such trust was ever createdMatches SEC complaint's characterization of the asset-backing claims. - #12[confirmed][no action needed]in section: Alleged Misappropriation of Investor Funds
“approximately $4.1 million toward a Miami condominium, approximately $2.8 million on a Park City, Utah residence, approximately $1.4 million applied to personal American Express credit card charges, approximately $1 million transferred to bank accounts controlled by Basile or family members, and $160,000 for a horse purchased for his daughter.”
reviewerBasile diverted approximately $4.1M to a Miami condo, $2.8M to a Park City, Utah home, $1.4M to personal Amex charges, $1M to family-controlled accounts, and $160,000 to a horseAll five dollar figures were verified word-for-word against the cited InvestmentNews reporting of the complaint. - #13[confirmed][no action needed]in section: Token Market History and Collapse
“The token opened at approximately $200 per token and reached a reported all-time high of approximately $9,335 on December 19, 2021, before collapsing to under $16 by late January 2022.”
reviewerLTNM listed on Digifinex, FMFW.io, BitMart and Changelly in October 2021, opened at approximately $200, reached an ATH of approximately $9,335 on December 19, 2021, then fell to under $16 by late January 2022The $200 opening figure, initially hard to corroborate via exchange press releases, is directly confirmed by the cited InvestmentNews article. - #14[confirmed][no action needed]in section: Token Market History and Collapse
“In January 2022, the project announced LTNM was 'pre-listed' on Binance.com; however, a full Binance listing did not subsequently occur.”
reviewerIn January 2022 LTNM was announced as 'pre-listed' on Binance.com, but a full Binance listing never occurredPre-listing announcement confirmed; absence of a full listing is supported by the lack of any later confirming report despite extensive searching. - #15[confirmed][no action needed]in section: Token Market History and Collapse
“As of April 2026, the token trades at approximately $0.41 with virtually no daily trading volume, representing a loss of more than 99.99% from its peak.”
reviewerAs of April 2026 LTNM trades at approximately $0.41 with virtually no volume, a loss of more than 99.99% from its peak, and was never listed on a Tier-1 regulated exchangeCurrent price figure independently corroborated across multiple trackers as of 2026. - #16[confirmed][no action needed]in section: Related Civil Litigation
“The suit alleges at least $540,000 of unregistered LTNM securities were sold to at least three Michigan investors between September and December 2021.”
reviewerThe Jonna civil suit (E.D. Mich., No. 2:2022cv10208) alleges at least $540,000 in unregistered LTNM securities sold to three Michigan investors, and the arbitration motion was denied on June 17, 2024Case number, dollar figure, plaintiff count and arbitration-denial date all corroborated by independent court records and reporting. - #17[confirmed][no action needed]in section: Related Civil Litigation
“a California plaintiff, Arshad Assofi, filed a civil suit against GIBF GP, Inc. and Donald Basile in approximately November 2022 alleging fraud of over $15 million and citing specific false claims, including Basile's alleged assertion that the project had received '$20 million from Star Trek producers' and a promised but undelivered November 2021 trading launch.”
reviewerArshad Assofi filed a civil suit in approximately November 2022 in California alleging fraud of over $15 million, including a claim that the project received '$20 million from Star Trek producers'Filing date, dollar amount, and the specific Star Trek claim were all independently verified; exact filing date is November 14, 2022, consistent with 'approximately November 2022.' - #18[confirmed][no action needed]in section: Background: Donald G. Basile
“Donald G. Basile holds an MS and PhD in electrical engineering from Stanford University and graduated first in his class from Rensselaer Polytechnic Institute.”
reviewerDonald Basile holds an MS and PhD in electrical engineering from Stanford and graduated first in his class from Rensselaer Polytechnic InstituteStanford degrees independently confirmed via Wikipedia; the RPI 'first in class' detail rests on self-published biographical material rather than an independent source. - #19[confirmed][no action needed]in section: Background: Donald G. Basile
“He is best known in the technology sector as CEO of Fusion-io (2008–2009), a flash storage company that was taken public on the NYSE and which recruited Apple co-founder Steve Wozniak as chief scientist.”
reviewerBasile was CEO of Fusion-io (2008-2009), taken public on NYSE, and recruited Steve Wozniak as chief scientistConfirmed via Wikipedia biography. - #21[confirmed][no action needed]in section: Background: Donald G. Basile
“Violin Memory later filed for bankruptcy in 2016.”
reviewerViolin Memory later filed for bankruptcy in 2016Independently confirmed; unrelated to Basile's earlier 2013 departure. - #23[confirmed][no action needed]in section: Background: Donald G. Basile
“As of the SEC's April 2026 complaint, no criminal charges had been filed in connection with the Bitcoin Latinum matter.”
reviewerAs of the SEC's April 2026 complaint, no criminal charges had been filed in connection with the Bitcoin Latinum matterAbsence of criminal charges is supported by the lack of any contemporaneous DOJ announcement despite the SEC action being widely covered. - #24[confirmed][no action needed]in section: Marketing Practices and Celebrity Endorsements
“The project hosted a celebrity launch event called 'GENESIS' in Miami, attended by MMA fighters Jorge Masvidal and Paige VanZant, with musical performances by Grammy winner Quavo and Grammy-nominated Tory Lanez.”
reviewerBitcoin Latinum hosted a celebrity launch event called 'GENESIS' in Miami attended by Jorge Masvidal and Paige VanZant with performances by Quavo and Tory LanezEvent details and attendee list independently confirmed via contemporaneous press coverage. - #25[confirmed][no action needed]in section: Marketing Practices and Celebrity Endorsements
“Professional poker player Phil Hellmuth publicly endorsed LTNM, wearing Bitcoin Latinum-branded clothing during the World Series of Poker and describing himself as a paid endorser.”
reviewerPhil Hellmuth publicly endorsed LTNM, wearing branded clothing at WSOP and describing himself as a paid endorserConfirmed via independent poker-industry reporting.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.