Coinbase completes Deribit switch, ending International Exchange trading

What happened

Coinbase completed the Deribit switch on October 1, ending trading on its International Exchange. The old venue is now read-only, and trading access, settlement and records changed for affected institutions.

Confirmed

Global impact / market context

Institutions that traded on the old venue must move activity to Deribit, which can change how they access trades, settle positions and keep records. This may raise operational costs and shift where crypto derivatives trading happens.

Analyst inference

The article ties the change to BTC and ETH markets, where derivatives let investors bet on future prices. Moving trading to Deribit concentrates activity on one venue, which can affect pricing, cash available for trading and how investors position themselves.

Analyst inference

What to watch

1. Affected institutions must confirm how trading access, settlement and records now work on Deribit after the old venue became read-only on October 1. Confirmed
2. Watch whether Coinbase or Deribit propose further changes to fees, access rules or record-keeping that could alter costs for institutional traders. Proposed
3. Observe whether trading volume shifts toward Deribit and whether that concentration changes pricing, cash needs or risk for BTC and ETH investors. Analyst inference

Affected assets

• ETH — Ethereum
• BTC — Bitcoin

Evidence

• cryptoslate.com