Tag: Flare

  • FXRP Anniversary: Flare Expands XRP DeFi Infrastructure After One Year

    FXRP Anniversary: Flare Expands XRP DeFi Infrastructure After One Year

    Flare Network is celebrating the first anniversary of its FAsset FXRP, which launched on mainnet one year ago, bringing programmatic XRP to DeFi applications while remaining backed by XRP on the XRP Ledger.

    Since its launch on September 24, 2025, via FAssets v1.2, FXRP has evolved from a simple minting mechanism into a robust infrastructure supporting staking, lending, borrowing, yield strategies, and cross-chain markets. The initial minting cap of 5 million FXRP filled within approximately four hours, signaling strong demand.

    “The notable takeaway from this year is not that XRP can be used in more places,” said Hugo Philion, CEO of Flare. “It is that an asset issued on one chain can become working capital without leaving it, and the path has to be short enough that people actually take it. XRP was the first asset we proved that with. It will not be the last.”

    FXRP is an ERC-20 representation of XRP created through Flare’s overcollateralized FAssets system. The Flare Data Connector verifies XRP Ledger transactions, enabling XRP to be used on Flare. Following the launch, various protocols integrated with FXRP: Kinetic introduced lending, SparkDEX and BlazeSwap provided liquidity, Enosys added collateralized debt, and Firelight uses FXRP for on-chain cover. Spectra brought fixed-rate and yield trading, while Upshift and Clearstar’s earnXRP offered vault-based yield strategies.

    Flare also focused on accessibility from the XRP Ledger through Flare Smart Accounts, which connected XRPL-native interactions with Flare applications. This included a February 2026 integration with Xaman and simplified workflows requiring only a single XRP Ledger signature.

    In May, FAssets v1.3 introduced destination-tag minting for better exchange and custodian support. During 2026, FXRP expanded to Ethereum and Base, broadening its use beyond Flare. A Morpho market developed with Sentora in August enabled FXRP to be used as collateral for borrowing RLUSD on Ethereum, showcasing utilities beyond yield and liquidity.

    FXRP’s growth also coincided with Flare’s token economics updates. FIP.16 reduced annual FLR issuance from 5% to 3% and lowered the cap from 5 billion to 3 billion FLR. Fees from FAssets minting and Flare Data Connector usage can be directed to the Flare Income Reinvestment Entity (FIRE), which may offset FLR issuance as activity grows.

    Flare is also developing Confidential Compute and Protocol Managed Wallets, with initial deployment on Songbird. The pattern of success is not specific to XRP; Flare’s data protocols are enshrined in consensus, allowing assets from other chains to be verified and used without leaving their native ledger.

    About Flare: Flare is an EVM-compatible Layer 1 blockchain focused on data, providing dApps with high-integrity data from other blockchains and the internet via its enshrined data protocols. Products like FAssets and Flare Smart Accounts enable assets like XRP to participate in DeFi while staying connected to their native networks.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency investments are risky; always do your own research.

  • OpenAI Launches ChatGPT Images 2.5 with Sketch Tool for Enhanced Editing Control

    OpenAI Launches ChatGPT Images 2.5 with Sketch Tool for Enhanced Editing Control

    OpenAI has officially launched ChatGPT Images 2.5, a major update to its image generation platform, introducing a new Sketch tool that allows users to draw directly inside a chat to guide the final image. The update, released on September 8, 2026, promises faster editing, stronger consistency across edits, and two new API models for developers.

    The Sketch tool is the headline feature of this release. Users can type “@Sketch” to open a canvas and rough out ideas—whether it’s a room layout, a clothing concept, or something easier to draw than describe. OpenAI also added new templates for common formats like flyers and product photos, along with the option to leave comments directly on an image for more targeted edits.

    According to OpenAI, editing control matters more than raw output quality in this version. Earlier versions of ChatGPT Images often lost track of a subject’s likeness after a few rounds of edits. Images 2.5 does a better job preserving people, pets, and key details, even as users apply changes to a specific part of an image without disturbing the rest. That consistency carries across longer conversations, so earlier edits stay intact instead of degrading with each new instruction.

    The new engine claims up to 50 percent lower generation latency than Images 2.0. The update rolled out to ChatGPT, ChatGPT Work, and Codex users across desktop, mobile, and web on all tiers. OpenAI shared the news first with Axios.

    Alongside the ChatGPT update, OpenAI introduced two API models: GPT-Image-2.5 Flare and GPT-Image-2.5 Sunburst. Flare serves as the default option for most use cases, offering higher image quality than GPT-Image-2 at half the latency. Sunburst targets premium workflows like campaign creative and polished product imagery, where tighter editing control matters more than speed.

    OpenAI said people generate more than 3 billion images every week across ChatGPT Images and the GPT-Image API models combined. Adobe has already added the new models to Firefly, its creative AI platform, according to comments the company shared at launch. Pricing for both new API models comes in at twice the rate of GPT-Image-2.

  • Flare FXRP Lending Hits $1M in Hours as Bitwise XRP ETF Outflow Sparks Questions

    Flare FXRP Lending Hits $1M in Hours as Bitwise XRP ETF Outflow Sparks Questions

    Flare’s new FXRP/RLUSD lending market saw $1 million borrowed within hours of its launch, while a reported $3.58 million outflow from the Bitwise XRP ETF drew market attention. Available records do not confirm a bearish XRP trade by Bitwise.

    FXRP Lending Demand Quickly Absorbs Initial RLUSD

    FXRP became the first XRP-based collateral approved for Sentora’s institutionally curated RLUSD vault on Ethereum mainnet. The wider vault holds about $280 million in deposits. Flare launched the separate FXRP/RLUSD market with a 5 million RLUSD supply cap. It initially supplied 1 million RLUSD, which borrowers fully used within hours.

    Risk clearance has since approved an expansion of the supply cap to roughly 9 million RLUSD, providing additional capacity if demand continues. Around 150 million FXRP currently circulates across the market. About 34.5 million FXRP already serves as collateral on Mystic Finance, Flare’s native Morpho deployment.

    The Ethereum market operates separately through Sentora. Flare’s FTSOv2 oracle supplies FXRP pricing on Flare, while Sentora uses ChainlinkOracleV2 infrastructure on Ethereum. This structure allows XRP holders to access RLUSD liquidity without first selling their FXRP collateral.

    Bitwise XRP ETF Outflow Reflects Redemption Activity

    Separately, social media accounts reported a $3.58 million outflow from the Bitwise XRP ETF on August 6. The flow reportedly occurred during the August 5 session. Available data supports a net redemption rather than a confirmed directional trade by Bitwise. The trust holds XRP on behalf of shareholders.

    Authorized financial firms handle share creations and redemptions under the fund’s operating structure. Bitwise Investment Advisers sponsors the product. The ETF creates and redeems shares in blocks of 10,000 through authorized participants. Therefore, a net outflow means redemptions exceeded new share creation.

    Does that redemption prove Bitwise expects XRP prices to fall? Public records currently provide no evidence supporting that interpretation. A redemption may result from portfolio rebalancing, liquidity needs, arbitrage, or an investor’s risk decision.

    Fund Records Put Reported XRP Outflow in Context

    Bitwise’s official page showed 293.93 million XRP in the trust on August 4. Those assets carried a value of about $314.39 million. The fund also reported 26.31 million shares outstanding and net assets near $314.37 million. Its net asset value stood at $11.95 per share.

    However, the holdings page had not yet advanced to August 5 when checked. As a result, it could not confirm the reported $3.58 million reduction. The fund’s first-quarter filing also recorded earlier redemptions. It sold about 9.73 million XRP for share redemptions and transferred another 2.69 million XRP through in-kind redemptions.

    Despite those transactions, XRP holdings rose from 131.22 million at year-end to 194.90 million by March 31. Holdings later reached 293.93 million by August 4. XRP traded near $1.07 on August 6, according to supplied market data. Its 24-hour range stood between $1.05 and $1.08.

    The token remained about 70% below its July 2025 record of $3.65. Its market capitalization stood near $67 billion. Bitwise’s fund showed a year-to-date NAV return of negative 41.70% through July 30. Its NAV fell 0.76% on August 4.

    The next confirmation will come from changes in daily holdings, shares outstanding, and net assets. Later SEC filings can also separate cash sales from in-kind XRP redemptions.

    Conclusion

    Flare’s FXRP/RLUSD market recorded rapid borrowing demand, while Bitwise’s reported XRP ETF outflow reflected a redemption rather than a proven bearish trade. Updated Bitwise holdings and later SEC filings should provide clearer evidence about how the August 5 redemption settled.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies are risky assets. Always do your own research before investing.

  • Crypto Roundup: Bitcoin ETF Inflows Hit $170M, XRP Gains RLUSD Lending, TRON Surpasses 15B Transactions

    Crypto Roundup: Bitcoin ETF Inflows Hit $170M, XRP Gains RLUSD Lending, TRON Surpasses 15B Transactions

    Bitcoin Spot ETFs See $170 Million in Net Inflows

    According to data from SoSoValue, U.S. spot Bitcoin ETFs recorded a total net inflow of $170.09 million yesterday. BlackRock’s IBIT led the charge with $111.43 million in daily net inflows, bringing its historical total to $60.59 billion. Fidelity’s FBTC followed with $33.36 million, reaching a cumulative net inflow of $9.95 billion. The overall net asset value of Bitcoin spot ETFs now stands at $77.58 billion, reflecting an ETF net asset ratio of 6.06% and a historical cumulative net inflow of $51.49 billion.

    XRP Holders Can Now Borrow RLUSD on Ethereum

    Flare has integrated FXRP into Sentora’s $280 million RLUSD vault on Morpho, enabling XRP holders to use their assets as collateral to borrow Ripple’s RLUSD stablecoin—without selling their XRP. This marks the first time an XRP-based asset has been accepted as collateral in an institutionally curated lending vault on Ethereum mainnet, opening the door for XRP to participate in institutional decentralized finance (DeFi). Holders can convert XRP into FXRP, bridge it to Ethereum, deposit it into the vault, and borrow RLUSD, thereby increasing capital efficiency.

    TRON Crosses 15 Billion Transactions

    TRONSCAN data shows the network has processed more than 15 billion confirmed transactions as of press time, with over 12.56 million transactions in the preceding 24 hours. Total registered accounts reached 396.74 million, after adding about 158,871 accounts in the same period. The milestone reflects cumulative network operations including token transfers, smart contract calls, and staking activity. TRON DAO reported that the blockchain processed 950 million transactions in Q1 2026, a 0.62% increase from the previous quarter.

    Former FBI Agent Accused of Stealing $1 Million in Crypto

    Patrick Steven Yaroch, a former FBI agent, has been charged with interstate transportation of stolen goods and receipt of stolen goods after allegedly stealing approximately $1 million in cryptocurrency from wallets under FBI custody. Court documents indicate that the thefts occurred between early 2025 and July 2026, during which Yaroch worked in the Counterintelligence and Espionage Division with Top Secret security clearances. He is accused of accessing internal systems to retrieve recovery phrases for wallets seized in investigations targeting a foreign adversary.

    Tether Reports Strong Q2 2026 Operating Profits

    Tether announced $1.5 billion in net operating profit for Q2 2026, a 50% quarter-on-quarter increase. USDT supply grew to $184.6 billion, and the global user base surpassed 650 million. The company’s Q2 attestation showed $187.75 billion in assets against $183.64 billion in liabilities, resulting in a $4.11 billion surplus. Tether also added 14 tons of gold during the quarter, pushing its gold reserves past 146 tons, and increased its Bitcoin holdings to 98,932 BTC, valued at $5.8 billion.