Virtual Assets Regulatory Authority

Deribit Moved 90% of Client Assets to Coinbase — Now Its Daily Proof-of-Reserves Check Is Going Away

Deribit will retire its public Proof of Reserves page on September 1, citing a shift of 90% of client assets to Coinbase custody arrangements. This change removes a daily, publicly verifiable check of customer balances against wallet holdings, replacing it with less accessible, on-request reporting. While not indicating a reserve shortfall, the move reduces customer transparency and self-verification capabilities.