Deribit will remove its public Proof of Reserves page effective September 1, 2026, ending daily transparency updates that had become a standard for exchange accountability since the 2022 crypto collapse.
Approximately 90 percent of Deribit's client assets have migrated to Coinbase following the exchange's acquisition, which finalized in August 2025. Coinbase now serves as custodian for the derivatives platform.
Deribit introduced its Proof of Reserves page in 2022 using a privacy-preserving binary Merkle tree structure that split client balances by asset and represented them as hashed entries. This allowed individual clients to verify their account balances against published on-chain wallet totals without exposing specific holdings to other users.
The discontinuation applies only to the voluntary daily publication. Deribit operates under regulation from the Virtual Assets Regulatory Authority (VARA) in Dubai since January 1, 2025, which mandates full segregation of client assets, a 1:1 reserve ratio, and independent Proof of Reserves audits twice annually. Those biannual audits will continue.
Deribit said clients and counterparties can request audited financial statements and due diligence materials directly from the exchange. The platform, which does not operate in the United States, is integrating with Coinbase to develop new products and features.
