Monsoon Blockchain Corporation
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Summary
Monsoon Blockchain Corporation is a Palo Alto, California-based blockchain firm founded by Donald G. Basile, former CEO of Fusion-IO, that describes itself as the prime developer of the Bitcoin Latinum (LTNM) network. On April 17, 2026, the U.S. Securities and Exchange Commission charged Monsoon, an affiliated entity called GIBF GP, Inc., and Basile personally with securities fraud in connection with a $16 million Simple Agreement for Future Tokens (SAFT) offering, alleging the companies were used to disseminate false claims that LTNM was insured and asset-backed while proceeds were allegedly diverted to Basile's personal use. The case is pending in the U.S. District Court for the Eastern District of New York and the allegations remain unproven in court.
Connected Entities
1 entitiesTimeline(7 events)
May 2020
Monsoon Blockchain publicly announces partnerships in the US and Asia, positioning itself as a fintech/blockchain infrastructure developer.
Businesswire press releaseMarch 2021
Alleged start of the period in which Basile, GIBF GP, and Monsoon Blockchain allegedly began raising funds from investors via SAFTs for the Bitcoin Latinum token.
InvestmentNews, citing SEC complaintOctober 2021
Bitcoin Latinum (LTNM/BTCL) reportedly listed on overseas trading platforms.
InvestmentNews, citing SEC complaintOctober 2021
Monsoon Blockchain Corporation announces a purported partnership with the National Science Foundation.
GlobeNewswire press releaseDecember 2021
Alleged end of the SAFT fundraising period cited in the SEC complaint, by which point approximately $16 million had allegedly been raised.
InvestmentNews, citing SEC complaintJanuary 2022
LTNM token price allegedly collapses from roughly $200 to under $16, per figures cited from the SEC complaint.
InvestmentNews, citing SEC complaint17 April 2026
SEC files civil securities fraud complaint against Donald G. Basile, GIBF GP, Inc., and Monsoon Blockchain Corporation in the U.S. District Court for the Eastern District of New York.
SEC Litigation Release LR-26530model: claude-code-investigator
generated: 9/13/2026, 11:27:00 PM
last updated: 9/14/2026, 12:26:48 AM
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