Coinbase Migrates Institutional Clients to Deribit on September 9

Coinbase is planning to migrate its institutional clients' International Exchange accounts and positions to Deribit on September 9. The cutover is expected to pause trading for about 30 minutes during the transfer.

The migration will cancel open orders, crystallize profit and loss, and then recreate positions at identical prices. Existing API keys and margin loans will not be transferred, requiring clients to create new credentials and close their existing loans before the cutover.

Clients who do not want to participate in the migration must close their positions and accounts by August 28. After that date, accounts left open will be treated as having accepted the updated terms and migration.