Home›Crypto›Market Structure›Deribit to remove daily proof-of-reserves page on Sept…

Deribit to remove daily proof-of-reserves page on Sept. 1

The exchange said about 90% of client assets have moved into Coinbase custody since Coinbase acquired the Derivatives platform in August 2025.

Reported · Written up by our desk · Market Structure

Deribit will remove its public Proof of Reserves page on Sept. 1, ending the daily check customers could use to verify whether their balances are included and to compare aggregate liabilities with published wallet holdings, according to CryptoSlate.

Deribit said reserve, reconciliation, and audit controls required by regulators will remain, but it will no longer provide the same daily public visibility. The exchange attributed the change to a wallet infrastructure overhaul tied to its integration with Coinbase.

CryptoSlate reports that Deribit's disclosures name Coinbase at the brand level but do not specify the Coinbase legal entity holding the migrated assets. Deribit said it uses a privacy-preserving binary Merkle tree with daily snapshots, where each client can use a unique proof identifier to locate hashed entries for balances, and the public could previously sum liabilities and compare them with Deribit wallet balances.

After Sept. 1, Deribit did not promise a replacement public dashboard or continued client-level Merkle verification, CryptoSlate added. The exchange said clients and counterparties may request audited financial statements and other due diligence material instead, while its obligations under Dubai's Virtual Assets Regulatory Authority continue to require reserves equal to 100% of client liabilities and periodic independent reserve audits.

More like this

Sources