Deribit Axes Daily Proof of Reserves Amid Coinbase Custody Shift

Deribit has announced that it will discontinue its daily proof of reserves page on September 1, citing the integration of Coinbase custody arrangements. Approximately 90% of client assets have been transferred to Coinbase since August 2025, when Coinbase acquired Deribit's derivatives platform.

The Proof of Reserves page allowed customers to verify their balance inclusion and compare aggregate liabilities with published wallet holdings. However, this public snapshot was already limited in scope, excluding assets held with third-party custodians such as Copper ClearLoop.

Going forward, clients and counterparties may request audited financial statements and other due-diligence material from Deribit. This alternative method of verification is less frequent and less directly verifiable than the previous public dashboard.