Deribit Shifts Client Assets to Coinbase, Kills Daily Proof-of-Reserves Check

Crypto derivatives platform Deribit has shifted nearly 90% of its client assets to Coinbase, following its acquisition in August 2025. The move comes with a caveat - Deribit will be removing its daily Proof of Reserves (PoR) page on September 1st.

The PoR page allowed clients and counterparties to verify their balance inclusion and compare aggregate liabilities with published wallet holdings. However, the exchange claims this change is due to a wallet infrastructure overhaul as part of its integration with Coinbase.

The removal of the daily PoR page does not mean Deribit has run into any issues with reserves. The exchange emphasizes that regulator-required reserve controls, reconciliation, and audits will remain in place, albeit less publicly visible.