Key Highlights
- More than 40 crypto firms, including Coinbase, Kraken, and Binance.US, joined the Transparency Alliance to improve token disclosure standards.
- The alliance uses Blockworks’ Token Transparency Framework (TTF) to standardize how crypto projects share key information.
- Around 44 crypto projects have already completed framework filings, with more expected later this year.
Coinbase, Kraken, Binance.US, and over 40 crypto firms have joined a new industry initiative called the Transparency Alliance, launched by Blockworks on Wednesday.
According to the official release, the alliance aims to bring together exchanges, custodians, market makers, and other service providers from across the industry, with an aim to make crypto tokens easier to understand by setting clear rules for what information must be shared with investors.
The initiative operates through Blockworks’ Token Transparency Framework (TTF), a standardized disclosure system first introduced in June 2025. The framework is designed to create consistent reporting standards for crypto projects by outlining what information should be publicly shared with investors and market participants.
Why the alliance was created
The idea behind the alliance is to solve a basic problem in crypto markets. Right now, many investors do not fully understand what they are buying when they purchase tokens. Important details like how tokens are shared, who controls them, or how supply is managed are often hard to find or missing.
“When investors buy a stock, they understand what they own. When they buy a token, they do not,” said Jason Yanowitz, co-founder of Blockworks. He added that key information is often “scattered, incomplete, or unavailable,” which creates confusion in the market.
The Token Transparency Framework, launched in June 2025, gives crypto projects a standard way to share important details. These include how the project is set up, how tokens are divided, how many tokens belong to insiders, and agreements with market makers. It also includes listing terms on exchanges and plans for buybacks if they exist.
The framework is split into two filing types:
- One is used when a token is first launched.
- The other is updated over time for more mature projects.
Major crypto firms join the initiative
In addition to Coinbase, Kraken, and Binance.US, the founding alliance members include firms such as Grayscale, Anchorage Digital, MoonPay, BitGo, VanEck, Bitwise, Ripple, FalconX, Aave, and Securitize.
Clay Maffett, Director of Asset Listings at Coinbase, commented on the initiative, stating, “We at Coinbase have long supported stronger disclosure standards and market integrity for token markets. We are excited to work with others across the industry to help make this a reality with the Token Transparency Framework.”
Moreover, the alliance includes participants from multiple segments of the crypto industry, including custody, trading, investment management, decentralized finance, and token issuance.
Early progress and talks with regulator
Blockwork stated that about 44 crypto protocols have completed filings since it started. Some of these include Morpho, Jupiter, Spark, and dYdX. The company said it expects a target of over 200 filings by the end of the year.
The company also noted that it has discussed with staff from major U.S. regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Overall, the alliance is not meant to judge tokens as good or bad. Instead, it only focuses on making information available. He also said there will be tokens that choose to share details and others that will not.
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