Executive Summary
- •Coinbase set an estimated Sept. 9 cutover date to transfer institutional positions to Deribit.
- •Clients wishing to opt out must close positions or accounts prior to the Aug. 28 boundary.
- •Migration involves a 30-minute downtime where orders are canceled and positions force-settled at mark prices.
Community Sentiment
Key Developments & Data
Coinbase $COIN plans to force-settle institutional positions ahead of a September Deribit migration.
Coinbase set an estimated Sept. 9 cutover date to transfer Coinbase International Exchange accounts, balances, and positions to Deribit.
Institutional clients must close open positions or terminate accounts prior to Aug. 28 if they wish to opt out of the migration.
During a planned 30-minute downtime on migration day, open orders will cancel and positions will force-settle at mark prices before recreating on Deribit.
Existing margin loans won't transfer to Deribit and must be fully closed before the scheduled cutover.
And forcing institutional desks to re-key endpoints and close margin loans on short notice shows who holds the leverage here.
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