{"id":12562,"date":"2026-08-30T00:04:21","date_gmt":"2026-08-30T00:04:21","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12562"},"modified":"2026-08-30T00:04:21","modified_gmt":"2026-08-30T00:04:21","slug":"deribit-ends-daily-proof-of-reserves-amid-coinbase-custody-shift","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12562","title":{"rendered":"Deribit ends daily proof of reserves amid Coinbase custody shift"},"content":{"rendered":"<p><\/p>\n<div data-single-article-content=\"\">\n<p>Deribit will remove its public Proof of Reserves page on Sept. 1, ending a daily check customers could use to verify balance inclusion and compare aggregate liabilities with published wallet holdings. Regulator-required reserve, reconciliation and audit controls will remain, but they do not provide the same daily public visibility.<\/p>\n<p>The exchange said the change reflects a wallet infrastructure overhaul during its integration with Coinbase. Deribit said roughly 90% of client assets have moved into Coinbase custody arrangements since Coinbase acquired the derivatives platform in August 2025. Its disclosures name Coinbase at the brand level but do not identify the specific Coinbase legal entity holding the migrated assets.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Coinbase\u2019s 30-minute Deribit switch will force-settle and rebuild institutional positions<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>Deribit&#8217;s existing system uses a privacy-preserving binary Merkle tree and a daily snapshot. Each client can use a unique proof identifier to find the hashed entries representing their balances, while anyone can sum the file&#8217;s liabilities and compare the total with wallet balances published by Deribit.<\/p>\n<p>The public snapshot was already narrower than Deribit&#8217;s full custody footprint. Its methodology says assets held with third-party custodians are excluded because they are outside Deribit&#8217;s direct control, naming Copper ClearLoop as an example. It does not say whether every Coinbase-held asset was already excluded.<\/p>\n<p>After Sept. 1, Deribit has not promised a replacement public dashboard or continued client-level Merkle verification. It said clients and counterparties may request audited financial statements and other due-diligence material, a less frequent and less directly verifiable form of evidence.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Four years after FTX, crypto exchanges still prove assets without proving solvency<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p> <img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-558918\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-810ed441-b34d-46f1-ab43-e4a352bf450b.png\" alt=\"Comparison of Deribit reserve evidence before and after Sept. 1, showing the removed public Merkle check and the remaining VARA and request-only controls.\" width=\"720\" height=\"901\"\/><img decoding=\"async\" class=\"lazyload aligncenter wp-image-558918\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-810ed441-b34d-46f1-ab43-e4a352bf450b.png\" alt=\"Comparison of Deribit reserve evidence before and after Sept. 1, showing the removed public Merkle check and the remaining VARA and request-only controls.\" width=\"720\" height=\"901\"\/><\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" data-newsletter-pending-label=\"Joining\u2026\" data-newsletter-pending-status=\"Joining the Daily Brief\u2026\" data-newsletter-email-required-message=\"Before sending, please provide your email address.\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\"> <i class=\"fa-regular fa-envelope\" aria-hidden=\"true\"\/> The Daily Brief <\/span><\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">The signal, before the noise.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Start your day with the crypto stories moving markets, decoded by CryptoSlate\u2019s editors.<\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__form-heading\">One email. Everything that matters.<\/p>\n<p id=\"cs-inline-newsletter-1-privacy\" class=\"cs-inline-newsletter__privacy\">Free to join. Unsubscribe any time.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<p> <i class=\"fa-regular fa-circle-check\" aria-hidden=\"true\"\/> <span><strong>You\u2019re on the list.<\/strong> Your next Daily Brief is on its way.<\/span><\/p>\n<\/div>\n<\/div>\n<\/aside>\n<p>The removal does not cancel the obligations applying to Deribit FZE. Dubai&#8217;s Virtual Assets Regulatory Authority requires covered virtual asset service providers to maintain reserves equal to 100% of client liabilities, hold them one-to-one in the same asset, reconcile them daily and obtain an independent third-party reserve audit at least every six months.<\/p>\n<p>Deribit&#8217;s notice refers both to annual and twice-yearly Proof of Reserves audits. The VARA rule sets the reserve-audit minimum at once every six months. A separate VARA provision requires an annual financial-statement audit and says the annual report must be available to clients and the regulator on request.<\/p>\n<p>Other evidence is regulator-facing rather than public. Covered firms must submit wallet addresses monthly and statements demonstrating compliance with financial requirements, including reserve assets, quarterly to VARA.<\/p>\n<p>VARA&#8217;s register lists Deribit FZE as an active exchange and broker-dealer VASP. Its membership terms allow assets to be held directly or through third-party custodians while requiring segregation from company assets and preserving clients&#8217; legal title. A separate service-provider list names Coinbase for custody and self-custody technology without specifying the Coinbase entity.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Bitcoin perps just got a US green light, but one catch could decide everything<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>The page&#8217;s removal is not evidence of a reserve shortfall. It is a reduction in what customers can test for themselves each day, leaving controls and reports that are less public, less frequent or available only on request.<\/p>\n<\/div>\n<p>Exchanges,Featured,Coinbase,deribit,Privacy,regulationCoinbase,deribit,Privacy,regulation#Deribit #ends #daily #proof #reserves #Coinbase #custody #shift1788048261<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deribit will remove its public Proof of Reserves page on Sept. 1, ending a daily check customers could use to verify balance inclusion and compare aggregate liabilities with published wallet holdings. Regulator-required reserve, reconciliation and audit controls will remain, but they do not provide the same daily public visibility. The exchange said the change reflects<\/p>\n","protected":false},"author":1,"featured_media":12563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[84,994,5374,3001,106,134,194,389,1647,334],"class_list":["post-12562","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-coinbase","tag-custody","tag-daily","tag-deribit","tag-ends","tag-privacy","tag-proof","tag-regulation","tag-reserves","tag-shift"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Deribit ends daily proof of reserves amid Coinbase custody shift - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"Deribit will end its daily proof of reserves page on Sept. 1 as client assets move to Coinbase custody under VARA oversight.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=12562\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deribit ends daily proof of reserves amid Coinbase custody shift\" \/>\n<meta property=\"og:description\" content=\"Deribit will end its daily proof of reserves page on Sept. 1 as client assets move to Coinbase custody under VARA oversight.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=12562\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-30T00:04:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/deribit-assets-custody-transfer.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12562\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=12562\",\"name\":\"Deribit ends daily proof of reserves amid Coinbase custody shift - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12562#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12562#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/deribit-assets-custody-transfer.jpg\",\"datePublished\":\"2026-08-30T00:04:21+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"Deribit will end its daily proof of reserves page on Sept. 1 as client assets move to Coinbase custody under VARA oversight.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12562#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=12562\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12562#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/deribit-assets-custody-transfer.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/deribit-assets-custody-transfer.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=12562#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Deribit ends daily proof of reserves amid Coinbase custody shift\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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