Donald G. Basile / Bitcoin Latinum (LTNM)
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 2 → 26. Problems weighed by who is responsible: the subject's own conduct −98, problems around the subject, caused by others −2.1; legitimacy credit long-running +10; no established finding that it defrauded anyone, so it stays out of the red band. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -98 |
| Problems around it, caused by others | -2.1 |
| Long-running | +10 |
| Sum | -25 |
- 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
Donald G. Basile is the founder of Bitcoin Latinum (LTNM) and CEO of Monsoon Blockchain Corporation. On April 17, 2026, the U.S. Securities and Exchange Commission filed a civil fraud complaint against Basile and two entities he controlled — GIBF GP, Inc. and Monsoon Blockchain Corporation — alleging he raised approximately $16 million from hundreds of investors through materially false statements about nonexistent insurance coverage and asset backing. The SEC alleges more than 80% of investor funds were diverted to personal use, including real estate purchases and a $160,000 horse. The case is a civil action; no criminal charges have been reported as of the investigation date.
Connected Entities
7 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→Phantom Wallet(60%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Bitcoin(75%)
- Donald G. Basile / Bitcoin Latinum (LTNM)→mentioned with→Ethereum(60%)
- Phantom Wallet→mentioned with→Ethereum(70%)
- Phantom Wallet→mentioned with→Bitcoin(70%)
- Bitcoin Latinum→mentioned with→Ethereum(65%)
- Bitcoin Latinum→mentioned with→Bitcoin(70%)
- + 13 more
1 submission awaiting moderator review.
Timeline(10 events)
1 March 2021
Bitcoin Latinum SAFT fundraising begins. Basile, through GIBF GP, Inc. and Monsoon Blockchain Corporation, begins soliciting investors with promises of a $1 billion-insured, asset-backed token.
SEC LR-26530 / InvestmentNews1 October 2021
LTNM listed on overseas trading platforms including DigiFinex. Token trades at approximately $200 at or around launch.
InvestmentNews / Fintechfutures1 November 2021
LTNM listed on Hotbit, described as the token's eighth exchange listing.
Yahoo Finance1 December 2021
Bitcoin Latinum hosts promotional event at Miami Art Basel attended by paid endorser Phil Hellmuth.
Globe Newswire31 December 2021
SAFT fundraising closes. Approximately $16 million raised from hundreds of investors in the U.S. and abroad.
SEC LR-2653031 January 2022
LTNM price falls from approximately $200 to under $16, according to reporting on the SEC complaint.
InvestmentNews1 February 2022
Private civil lawsuit filed in the Eastern District of Michigan (No. 22-CV-10208) by three plaintiffs alleging misappropriation of at least $540,000 in investments and unregistered securities sales.
CourtListener — Jonna v. Bitcoin Latinum30 November 2022
Investor Arshad Assofi files civil lawsuit in Northern California against GIBF GP, Inc. and Basile, alleging fraud totaling over $15 million. Forbes reports on the suit, describing the token as 'worthless' and 'a scam' per the complaint.
Forbes / Poker.org17 June 2024
Eastern District of Michigan denies Bitcoin Latinum's motion to compel arbitration in the Jonna case. Private litigation continues.
CourtListener / BlockTribune17 April 2026
SEC files civil fraud complaint (LR-26530) in the Eastern District of New York against Donald G. Basile, GIBF GP, Inc., and Monsoon Blockchain Corporation, alleging $16 million in securities fraud via fraudulent SAFT offerings.
SEC.gov — LR-26530Decision Log
- slot 455361804 · hash D16dLjyAtnc4VpiZjMctGfDYxQZzY5jp9wehnqGBTLDx
- slot 447372188 · hash 229gtThbCGtu7hnSxdTnDk1Qqhopyv3pHDgsN4SEyZtH
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 18 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/15/2026, 11:13:28 PM
last updated: 10/10/2026, 6:42:18 PM
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