Deribit to Remove Public Proof of Reserves Page
Deribit will remove its public Proof of Reserves page on 1 September 2026, ending users’ ability to conduct daily checks of customer assets and liabilities through the exchange dashboard. The decision follows Deribit’s wallet-infrastructure updates and integration with Coinbase, which was completed after Coinbase acquired Deribit in August 2025. About 90% of Deribit customer assets have now moved under Coinbase custody. Deribit said the change will not affect asset protection or segregation. Under Dubai’s VARA rules, it must maintain reserves covering at least 100% of customer liabilities and undergo independent Proof of Reserves audits twice a year, alongside annual financial audits. However, Deribit has not announced a replacement public dashboard. For crypto traders, the removal of daily Proof of Reserves reduces real-time exchange transparency and may increase reliance on custody disclosures and formal audits when assessing counterparty risk.
Neutral
The announcement is unlikely to create a direct price catalyst for any cryptocurrency because it concerns Deribit’s transparency practices and custody structure rather than a token, network upgrade or market-wide liquidity event. In the short term, some traders may react cautiously to the loss of daily Proof of Reserves visibility, potentially increasing perceived counterparty risk and reducing activity on the platform. However, the impact should be limited because Deribit says customer assets remain segregated and protected, around 90% are held under Coinbase custody, and independent audits will continue. Over the longer term, formal audits and regulatory compliance could support confidence, while the absence of a replacement public dashboard may keep transparency concerns elevated. Overall, the news is best classified as neutral for cryptocurrency prices, with a possible negative effect on Deribit-specific trust rather than broad market stability.