Donald Basile / Bitcoin Latinum (BTCL)
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 0 → 26. Problems weighed by who is responsible: the subject's own conduct −148, problems around the subject, caused by others −1.8; legitimacy credit long-running +10; no established finding that it defrauded anyone, so it stays out of the red band; fact-check adjustments (−10) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -148 |
| Problems around it, caused by others | -1.8 |
| Long-running | +10 |
| Sum | -75 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 26/100 (kept between 0 and 100)
How scoring works →Summary
Bitcoin Latinum (ticker: LTNM), promoted as 'the world's first insured digital asset,' was a cryptocurrency project founded by Donald G. Basile and operated through entities GIBF GP, Inc. and Monsoon Blockchain Corporation. The project raised approximately $16 million from hundreds of investors via Simple Agreements for Future Tokens (SAFTs) between 2020 and 2021. In April 2026, the U.S. Securities and Exchange Commission charged Basile and his entities with securities fraud, alleging that key representations to investors — including claims of $1 billion in insurance coverage and an asset-backed trust — were fabricated, and that millions in investor funds were misappropriated for personal use.
Connected Entities
8 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- 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%)
- Bitcoin Latinum→mentioned with→Bitcoin(70%)
- Bitcoin Latinum→mentioned with→Binance(60%)
- Donald Basile→mentioned with→Donald Basile / Bitcoin Latinum (BTCL)(75%)
- + 20 more
1 submission awaiting moderator review.
Timeline(15 events)
August 2006
Donald Basile becomes Chairman of the Board at Fusion-io, a flash storage startup.
Don Basile — WikipediaFebruary 2008
Basile becomes CEO of Fusion-io, leading it toward NYSE listing.
SALT Conference — Dr. Donald Basile speaker profileApril 2009
Basile becomes CEO of Violin Memory, eventually leading company to raise $400 million and list on NYSE.
Violin Memory Names Industry Pioneer Donald Basile as CEO — ChipEstimateFebruary 2014
Basile departs the Violin Memory board of directors.
Don Basile No More Board's Director at Violin Memory — StorageNewsletter2020
Basile launches Bitcoin Latinum (LTNM) through GIBF GP, Inc. and Monsoon Blockchain Corporation and begins SAFT offering to investors.
SEC Charges Bitcoin Latinum Founder Over Alleged $16M Investor Fraud — Crypto BriefingMarch 2021
SAFT investor offering period begins. Basile allegedly raises approximately $16 million from hundreds of investors through December 2021.
SEC Litigation Release LR-2653012 August 2021
Bitcoin Latinum announces partnership with luxury hospitality group The h.wood Group for cross-promotional marketing.
Bitcoin Latinum Partners with The h.wood Group — Financial Content4 December 2021
Bitcoin Latinum hosts a sold-out Art Basel party in Miami, with performances by Quavo and Tory Lanez.
Bitcoin Latinum Hosts Historic Miami Art Basel Metaverse Party — Financial Content6 January 2022
Bitcoin Latinum announces plans to list on ten additional global exchanges in 2022.
Bitcoin Latinum Announces 2022 Exchange Listing Plans — GlobeNewswireFebruary 2022
Plaintiffs Raymond and Simon Jonna file securities fraud suit against Bitcoin Latinum in the U.S. District Court for the Eastern District of Michigan, alleging $500,000 in lost investment. LTNM price reportedly drops approximately 95% in the aftermath.
Bitcoin Latinum Named in Civil Lawsuit — CryptoCurrencyWire14 November 2022
Arshad Assofi files suit in the U.S. District Court for the Central District of California against Basile, alleging fraud and loss of more than $15 million, including claims about false Star Trek producer investment representations.
Hellmuth-promoted cryptocurrency Bitcoin Latinum and founder sued in California — Poker.org30 November 2022
Forbes publishes report detailing investor allegations that Basile falsely claimed Star Trek producers had invested $20 million in Bitcoin Latinum; Paramount denies any involvement.
A Cryptocurrency Named After The Fictional Money In Star Trek Is 'Worthless' And 'A Scam,' New Lawsuit Alleges — Forbes17 June 2024
U.S. District Judge Laurie J. Michelson denies Bitcoin Latinum's motion to compel arbitration in the Jonna case, finding plaintiffs never consented to arbitration clause.
Judge Denies Bitcoin Latinum's Motion to Compel Arbitration in $500K Crypto Lawsuit — BlockTribune14 May 2025
The U.S. Court of Appeals for the Sixth Circuit affirms the denial of Bitcoin Latinum's arbitration bid, additionally finding that Bitcoin Latinum waived its arbitration rights through more than two years of active litigation.
Sixth Circuit Rejects Bitcoin Latinum's Arbitration Bid in Fraud Case — BlockTribune17 April 2026
The SEC files a civil fraud complaint in the U.S. District Court for the Eastern District of New York against Donald G. Basile, GIBF GP, Inc., and Monsoon Blockchain Corporation, alleging $16 million in investor fraud tied to fabricated insurance coverage, non-existent asset-backed trust, and personal misappropriation of funds.
SEC Litigation Release LR-26530Decision Log
- slot 455361261 · hash 7rw2pJACJjj28RoKczi7fDLHTN9inhZt9g4oDiKf5uZY
- slot 443505892 · hash 25nNXT5z4zWF2asC91Y3eJGDUFjqA5KUQFrnoNLBtBk5
- slot 443505880 · hash 32eA4ohSg7HXQ9ooMd3rjPZ8EHLMKJ1uhEJ1io3Jrh5K
- slot 443502587 · hash 7Jptcoj7Y8fHUiTkJLuhSmDvvvEV75cgYrLN2bKgcWMo
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 17 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 7/29/2026, 12:23:19 PM
last updated: 10/10/2026, 6:41:59 PM
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