Overview
- Blockworks announced the Transparency Alliance on Wednesday, May 27, bringing more than 40 exchanges, custodians, market makers, funds and protocols together to endorse its Token Transparency Framework.
- The Token Transparency Framework sets two filing types for projects—a one-time B-1 for new launches and an ongoing B-2 for mature protocols—and issues a Disclosure Score that measures how complete filings are.
- Blockworks says roughly 44 protocols have filed under the TTF since June 2025, while an independent audit counted 42 filings with only 13 fully complete and 29 partial submissions.
- Founding alliance members named by Blockworks include Coinbase, Binance.US, Kraken, Grayscale, Anchorage Digital, BitGo, VanEck, Aave and Ripple, and members plan to use TTF disclosures in their diligence and listing work.
- Blockworks aims to grow public disclosures to more than 200 protocols by the end of 2026 and has briefed SEC and CFTC staff, a push that could raise investor clarity about token supply, insider allocations and market arrangements and increase pressure for formal rules.