Bitcoin Latinum (LTNM) / Monsoon Blockchain Corporation
Summary
Bitcoin Latinum (LTNM) was a cryptocurrency token marketed by Monsoon Blockchain Corporation and its CEO Donald G. Basile as the 'world's first insured digital asset,' falsely claiming up to $1 billion in insurance coverage and asset-backing by a digital-asset trust. On April 17, 2026, the SEC filed a civil fraud complaint against Basile, GIBF GP Inc., and Monsoon Blockchain Corporation, alleging that $16 million raised from hundreds of investors via Simple Agreements for Future Tokens (SAFTs) between March and December 2021 was largely misappropriated for personal use. The token collapsed from a peak of approximately $9,335 in December 2021 to worthless, leaving investors with no recourse.
Connected Entities
1 entities · 10 linked investigationsTimeline(7 events)
2020-01-01
Bitcoin Latinum (LTNM) project launched by Donald Basile and Monsoon Blockchain Corporation, marketed as a Bitcoin hard fork with insurance backing.
Yahoo Finance / Monsoon Blockchain press release2021-03-01
SAFT offering commenced. GIBF GP Inc. and Monsoon Blockchain Corporation begin raising funds from accredited investors with promises of future LTNM token delivery.
InvestmentNews2021-10-01
LTNM begins trading on overseas exchanges including HitBTC, LBank, DigiFinex, Hotbit, and XT.com.
InvestmentNews2021-12-01
SAFT offering closes. Approximately $16 million raised from hundreds of investors. Basile allegedly had already diverted substantial funds to personal use.
SEC Litigation Release lr-265302021-12-19
LTNM reaches all-time high price of approximately $9,335 on secondary market exchanges.
Bitget Price History2022-01-01
LTNM price collapses from approximately $9,335 to under $16 by late January 2022. Monsoon Blockchain announces plans for 20 exchange listings, which do not materialize.
Yahoo Finance / InvestmentNews2026-04-17
SEC files civil fraud complaint (No. 1:26-cv-02293, E.D.N.Y.) against Donald G. Basile, GIBF GP Inc., and Monsoon Blockchain Corporation, alleging $16 million securities fraud via fraudulent SAFT offering.
SEC Litigation Release lr-26530Decision Log
- #1publish⛓ pending8/3/2026, 12:03:54 PMhash: BgtwCBA94MYunJ1av5Q9w2i1WQjUzg4WhctYeagus2zV
11 of 11 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/3/2026, 12:03:39 PM
last updated: 8/3/2026, 6:13:25 PM
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