Donald Basile / Bitcoin Latinum (BTCL)
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
1 entities · 10 linked investigations- + 5 more
Timeline(15 events)
2006-08-01
Donald Basile becomes Chairman of the Board at Fusion-io, a flash storage startup.
Don Basile — Wikipedia2008-02-01
Basile becomes CEO of Fusion-io, leading it toward NYSE listing.
SALT Conference — Dr. Donald Basile speaker profile2009-04-01
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 — ChipEstimate2014-02-01
Basile departs the Violin Memory board of directors.
Don Basile No More Board's Director at Violin Memory — StorageNewsletter2020-01-01
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 Briefing2021-03-01
SAFT investor offering period begins. Basile allegedly raises approximately $16 million from hundreds of investors through December 2021.
SEC Litigation Release LR-265302021-08-12
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 Content2021-12-04
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 Content2022-01-06
Bitcoin Latinum announces plans to list on ten additional global exchanges in 2022.
Bitcoin Latinum Announces 2022 Exchange Listing Plans — GlobeNewswire2022-02-01
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 — CryptoCurrencyWire2022-11-14
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.org2022-11-30
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 — Forbes2024-06-17
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 — BlockTribune2025-05-14
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 — BlockTribune2026-04-17
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
- #1publish⛓ pending7/29/2026, 12:23:31 PMhash: 7Jptcoj7Y8fHUiTkJLuhSmDvvvEV75cgYrLN2bKgcWMo
16 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: 7/29/2026, 3:43:48 PM
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