Disclosures
Disclosures and conflicts of interest
DRAFT – for attorney review
These disclosures follow the draft Independence and Conflicts Policy and will be finalized with counsel before launch.
Affiliate business: Trust Bridge Network
Par & Reserve LLC (in formation) is a wholly owned subsidiary of Block Bridge, Inc. Block Bridge is developing stablecoin settlement infrastructure (Trust Bridge Network). It may in the future have commercial relationships with issuers, blockchains or service providers covered in the Report.
- Trust Bridge Network commercial personnel do not take part in, review or comment on assessments before publication, and receive Report content only as ordinary subscribers.
- Any individual working on both research and Trust Bridge Network logs every relevant commercial relationship in a Conflicts Register and is never the final approver of an assessment of an entity on that register.
- Where a material affiliate relationship exists with a covered asset, the asset is either marked NR – Conflict or published with independent review and an "Affiliated – see disclosure" flag next to the score.
- The Report does not promote Trust Bridge Network or any affiliate product.
Financial-institution roles
Bradley W. Smith, founder of Block Bridge, Inc., serves on the Supervisory Committee of Awakon Federal Credit Union and recuses himself from any Awakon matter involving the Report, Block Bridge or Trust Bridge Network products, or stablecoin and vendor decisions where Report content is a material input.
Awakon confidential information is never used in the Report, in marketing or by Trust Bridge Network. Any sale of the Report to Awakon requires approval by its board or management without his participation, terms no more favorable than for similar subscribers, disclosure, and confirmation by counsel.
Current register (November 2026 issue)
- Covered assets with an affiliate relationship
- None
- NR – Conflict designations
- None
- Analyst overrides applied this period
- None
- Issuers or assessed vendors that are subscribers
- [Aggregate count to be published at launch]
- Last policy review
- [Date of adoption]
The register above reflects the dataset currently shown on this site (SAMPLE – not yet analyst-reviewed).
No issuer compensation
We do not accept compensation from issuers for assessments, scores, grades or coverage decisions. Issuers may buy a standard subscription at list price, which gives no right to influence, preview or delay any content.