The post Flare’s Hugo Philion Urges XRP Holders to Avoid Untrustworthy Platforms appeared on BitcoinEthereumNews.com.

TLDR Flare Network co-founder Hugo Philion warns XRP holders against using opaque platforms that offer yield or staking rewards. Philion advises investors to avoid platforms that do not provide transparency on how user funds are managed. The warning comes after Stream Finance disclosed a $93 million loss, highlighting the risks posed by unregulated crypto platforms. Flare Network offers a more transparent DeFi alternative for XRP holders with its FXRP initiative. The XRP community has expressed frustration with Philion’s vague warning, which did not name specific platforms. Hugo Philion, co-founder of Flare Network, has warned XRP holders about depositing their tokens into platforms that offer yield or staking rewards. He cautioned against using opaque platforms that lack operational transparency, urging users to avoid “black boxes” like some existing vault services. Philion’s remarks came in a post on X, where he expressed concerns about the risks posed by platforms that promise high returns without disclosing how user funds are managed. Philion’s Concerns Over Centralized Platforms Philion did not name specific platforms in his warning, but his comments targeted centralized or semi-transparent vault services. These platforms claim to offer XRP yield opportunities but fail to provide clear information on their operations. According to Philion, the lack of transparency in these services puts investors at risk. Philion’s warning follows a recent case involving Stream Finance, which disclosed a $93 million loss in assets managed by an external fund manager. The platform suspended withdrawals and deposits as a result, leading to widespread concerns about similar incidents in the crypto space. This situation highlights the risks associated with yield-bearing platforms, with many comparing it to the collapse of Celsius and other high-risk financial schemes. Flare Network’s Commitment to Transparency In contrast to these opaque platforms, Flare Network aims to offer a transparent alternative to XRP holders.…

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Filed under: News - @ November 14, 2025 5:22 am