Donald Basile
Founder behind Bitcoin Latinum (LTNM). The SEC charged him in 2026 with defrauding investors of ~$16M by falsely claiming the token was insured and asset-backed, and misappropriating funds for personal use (including a $160,000 horse).
Also known as: Donald G. Basile
Note: The SEC's April 2026 charges against Basile are allegations that have not been adjudicated.
Bio
Donald G. Basile controlled GIBF GP and Monsoon Blockchain Corporation, through which he sold SAFTs for the "Bitcoin Latinum" (LTNM) token. The SEC alleges he made materially false claims — that LTNM was insured (up to $1B) and backed by an existing trust — and diverted millions of the ~$16M raised to personal expenses. [1][2]
Status
The SEC charged Basile (E.D.N.Y.) on April 17, 2026 under the antifraud provisions (Securities Act §17(a), Exchange Act §10(b)/Rule 10b-5), seeking injunctions, disgorgement, penalties, and an officer/director bar. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.