CoinDesk
Coinbase, Kraken, Binance.US and more than 40 crypto firms have formed the Transparency Alliance, a Blockworks-led initiative to bring stock market-style disclosures to token markets. The group will use Blockworks' Token Transparency Framework as a shared benchmark — covering insider allocations, market maker agreements, exchange listing terms, and buyback programs — with 44 protocols already having filed under the standard since its June 2025 launch.
"When investors buy a stock, they understand what they own. When they buy a token, they do not," Blockworks co-founder Jason Yanowitz said. "Critical information is often scattered, incomplete, or unavailable." The framework offers two filing types: a one-time disclosure modeled on an S-1 for new launches, and a continuously updated filing for mature protocols.
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