Crypto Sector Sees Stark Divergence: Privacy Coins Surge 86% While NFTs & Staking Crash Double Digits

Privacy tokens are mooning while speculative assets tank—another month of crypto's brutal Darwinism.

Privacy coins dominate: Monero, Zcash, and other anonymity-focused assets skyrocketed 86% in 30 days as regulatory scrutiny intensifies on centralized exchanges. Meanwhile, NFT trading volumes and staking yields plunged over 10%, proving once again that crypto's 'next big thing' often becomes its latest cautionary tale.

The lesson? In crypto winter, utility outperutes hype—though Wall Street will likely spin this as 'healthy sector rotation' until their own tokenized junk bonds start crashing.

Romillo’s MIC allegedly duped investors of millions

In late 2024, Spanish authorities began investigating MIC, and in October of that same year, they reported three complaints. The Central Operational Unit of Spain’s Civil Guard (UCO) believes that Romillo’s MIC allegedly operated a Ponzi scheme that defrauded 3,000 people of €260 million (approximately $300 million). 

According to Zaballos Abogados, a Spanish law firm, Romillo has assisted law enforcement over the past year by attending court proceedings. He also assisted the authorities in recovering assets, including high-end vehicles.

Zalaballos Abogados reported that the National Police and the Public Prosecutor’s Office of the National Court seized a total of twenty-four luxury vehicles registered to one of the firms. The authorities seized three more luxury vehicles registered to another company inside the MIC network. Each car had been uniquely identifiable by its chassis number and registration plate.

The Spanish law firm stated that a Mercedes-Benz S650 Maybach, a Ferrari Testarossa, a Ferrari 430 Scuderia, a Ferrari 365 GTC4, a Ferrari F131, several Jaguars, numerous Porsches, BMWs, a Ford Mustang, and other distinctive automobiles of significant economic value were among the vehicles.

MIC required deposits (a minimum of €2,000 per investor) with assured buybacks and fixed earnings that were very high, at about 20% annually. The deposits helped MIC to purchase digital “artwork” contracts and shares in luxury items, including yachts, Ferraris, and gold. 

During his Friday court appearance, Romillo stated that he planned to reimburse investors and had even sent money back to 2,700 parties; however, he did so in cash and claimed he had no method to account for the payments.

Romillo’s $115,000 cash handshake sparks election investigation

The National Court has an open case against CryptoSpain for allegedly operating a cryptocurrency pyramid scheme.

The Central Operational Unit (UCO) of the Civil Guard and the Tax Agency submitted a report to Spain’s National Court Judge José Luis Calama, emphasizing the existence of solid and rational indications of criminality committed by Romillo.

The UCO report detailed that last year, Romillo acknowledged using an underhanded cash payment of €100,000 ($115,000) to support the 2024 election campaign of far-right Spanish MEP Luis “Alvise” Pérez, the leader of the SALF party. 

Pérez is being investigated in a separate instance from the broader MIC investigation.

According to a Euro News report, Romillo allegedly handed the money in hard currency to Pérez on 27 May, just days before the European elections. In the report, Pérez allegedly contacted Romillo in March to set up a digital wallet that would enable him to receive “anonymous and encrypted” funding.

Pérez acknowledged on Telegram receiving the money “as a freelancer without an invoice,” for which he was fined 25% of the total.

According to the report, Pérez claimed that Romillo agreed with the public prosecutor’s office to escape pre-trial imprisonment for fraud by accusing the MEP of accepting the money to support his election campaign. Additionally, Romillo provided documentation demonstrating their continued communication. He claimed Pérez informed him that he required between €300,000 and €360,000 to start his campaign for Brussels.

According to Spain’s party financing rules, donations exceeding €25,000 must be disclosed to the Court of Auditors, and donations exceeding €50,000 annually are prohibited.

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