Circle · Coinbase · CryptoSlate
Deribit moved 90% of client assets to Coinbase, then killed its daily proof-of-reserves check
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
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Deribit will remove its public Proof of Reserves page on Sept. 1, ending a daily check customers could use to verify balance inclusion and compare aggregate liabilities with published wallet holdings.
Key facts
- Deribit said roughly 90% of client assets have moved into Coinbase custody arrangements since Coinbase acquired the derivatives platform in August 2025
- After Sept. 1, Deribit has not promised a replacement public dashboard or continued client-level Merkle verification
- VARA's register lists Deribit FZE as an active exchange and broker-dealer VASP
- Deribit will remove its public Proof of Reserves page on Sept. 1, ending a daily check customers could use to verify balance inclusion and compare aggregate liabilities with published wallet holdings
Summary
01 Deribit will remove its daily public Proof of Reserves page on Sept. 1 during its Coinbase integration. 02 The change ends client-level Merkle checks but does not itself indicate a reserve shortfall. 03 VARA rules still require 1:1 reserves, daily reconciliations and independent audits at least every six months. The exchange said the change reflects a wallet infrastructure overhaul during its integration with Coinbase.