Deribit to Remove Public Proof of Reserves Page on Sept. 1

Deribit, a major crypto derivatives exchange, is set to take down its public Proof of Reserves page on September 1. Once the page goes offline, users will no longer be able to verify the platform's client assets and liabilities on a daily basis through that channel. The removal follows the completion of Deribit's integration with Coinbase. Around 90% of client assets are now placed under Coinbase custody. In practice, Deribit is shifting from a model of daily public transparency checks to one centered on third-party custody and regulatory audits. The page previously gave users an ongoing look at whether holdings covered customer liabilities each day. Deribit said regulatory audits will continue to be performed. No new public proof-of-reserves dashboard has been announced as a direct replacement, however. For now, the exchange has not offered a similar public page in its place, even as audits remain ongoing. Coin Bureau reported on the planned removal.