TLDR
- Blockworks launched the Transparency Alliance to improve crypto token disclosure standards.
- Coinbase, Kraken, Binance.US, Ripple, Grayscale and Aave joined the founding group.
- The alliance uses Blockworks’ Token Transparency Framework, introduced in June 2025.
- The framework covers token allocations, insider holdings, market maker deals and buybacks.
- About 44 crypto protocols have filed disclosures, with a target of 200+ by year-end 2026.
Coinbase, Kraken, Binance.US and more than 40 crypto firms have joined the Transparency Alliance, a new industry group launched by Blockworks to promote standardized disclosure practices for digital asset projects.
The alliance is built around Blockworks’ Token Transparency Framework, a reporting system introduced in June 2025 to give crypto projects a structured way to publish information about token design, supply, governance, market structure and related business arrangements.
Blockworks said the initiative is intended to address information gaps in token markets. In many cases, investors must search across websites, forum posts, governance pages, block explorers and social media accounts to understand how a token is issued, managed or controlled.
The founding members include exchanges, custodians, market makers, asset managers, decentralized finance protocols, stablecoin firms and tokenization companies. The group includes Coinbase, Binance.US, Kraken, Grayscale, Anchorage Digital, MoonPay, BitGo, VanEck, Bitwise, Copper, Jito, Securitize, GSR, FalconX, Auros, Aerodrome, Aave, Ripple and MEXC.
Token Transparency Framework Sets Filing Standards
The Token Transparency Framework creates a common format for crypto projects to share material information with market participants. The framework includes details such as entity structure, token allocations, insider holdings, market maker agreements, exchange listing terms and any buyback programs.
The system includes two filing types. A B1 filing is designed for token generation events and is completed once near launch. A B2 filing is intended for mature protocols and is updated over time as project details change.
Blockworks said the framework does not rate tokens as good or bad. Instead, filings are reviewed for completeness. Projects can receive labels showing whether they have provided the requested information.
The goal is to create a consistent public record that exchanges, investors, custodians and other market participants can use during diligence reviews. The framework also gives token issuers a standard process for publishing information that may otherwise be scattered or difficult to verify.
Jason Yanowitz, co-founder of Blockworks, said investors in public stocks usually understand what they own, while token buyers often face missing or incomplete information. He said the framework is meant to make token data easier to access and compare.
Major Crypto Firms Back Disclosure Push
Coinbase said it supports stronger disclosure standards and market integrity in token markets. Clay Maffett, Coinbase’s director of asset listings, said the company is working with other industry participants to support the Token Transparency Framework.
The alliance brings together firms from several areas of the crypto market. Exchanges may use the framework as part of listing reviews. Custodians and asset managers may use filings to assess token structure and operational risk. Market makers may review the data when evaluating liquidity arrangements.
DeFi protocols and token issuers may also use the framework to present token supply information and governance details in a format that is easier for investors and service providers to review.
Blockworks said 44 protocols have completed filings since the framework launched. Projects that have filed include Morpho, Jupiter, Spark, dYdX, Jito, Aerodrome and ZKsync.
The company said it aims to have more than 200 protocols with public disclosures by the end of 2026.
Disclosure Debate Grows in Washington
The Transparency Alliance is launching as U.S. lawmakers and regulators continue working on digital asset market structure rules. Congress has been advancing the CLARITY Act, which is expected to address classification, disclosure and oversight standards for crypto markets.
Blockworks said it has discussed the framework with staff from the Securities and Exchange Commission and the Commodity Futures Trading Commission. The framework remains an industry-led effort and is not a government filing system.
The alliance is intended to create a disclosure baseline before formal rules are finalized. Industry participants have said clearer token data could help reduce confusion around supply, insider participation and project governance.
The initiative may also help investors compare crypto projects more directly. Standardized filings can make it easier to identify whether a project has disclosed insider allocations, market maker terms, treasury structure or token release schedules.
The Transparency Alliance will continue adding members and refining the framework as more projects file disclosures. Its early adoption by major exchanges and service providers shows that token transparency is becoming a larger part of crypto market infrastructure.
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