Beall’s (e.g., 2009, 2021) transparency theory of truth is recognized as a prominent, deflationist solution to the liar paradox. However, it has been neglected by truth theorists who have attempted to show that a deflationist theory of truth can (or cannot) account for truth dependence, i.e., the claim that the truth of a proposition depends on how things described by the proposition are, but how these things are does not depend on the truth of the proposition. Truth theorists interested in (...) truth dependence have, instead, been focused on Horwich’s Minimalism (e.g., 1998). The goal of this paper is twofold. First, I construct what versions of the transparency theory would say about truth dependence. Second, I argue that even the best version of transparent truth ultimately fails to account for truth dependence. On the assumption that accounting for truth dependence is an adequacy condition on any theory of truth, the paper rejects transparency theory as an adequate theory of truth. (shrink)