ChainCatcher news, Francisley Valdevino da Silva, nicknamed "the Cryptocurrency Chief," has been sentenced to 56 years in prison by the Federal Court of Curitiba for criminal activities carried out through Rental Coins.Judge Nivaldo Brunoni pointed out that Francisley Valdevino da Silva showed complete disdain for investors, and among the victims was celebrity Sasha Meneghel, who lost 1.2 million reais in this scam.Rental Coins attracted investments with a carefully designed scam, including a virtual platform, upscale headquarters, and prize lotteries. The judge noted that the victims' money was used to pay for employees' travel expenses, and the company had no financial backup, resulting in millions of reais not being refunded to the victims.

ChainCatcher news, Visa's cryptocurrency chief Cuy Sheffield stated during a fireside chat at the Solana Breakpoint event in Singapore on Friday that stablecoins based on non-U.S. fiat currencies will grow in the coming years.Cuy Sheffield said, "The U.S. dollar is great for cross-border transactions, but you need to be able to exchange quickly and efficiently, and other local currency stablecoins can play an important role in that."Cuy Sheffield added that in the future, every major fiat currency will be represented on-chain, although currently, U.S. dollar stablecoins account for 99% of the total supply of stablecoins. It is "exciting" to see more stablecoins trying to differentiate themselves from USDT or USDC entering the market.