Coinbase to Force-Settle and Recreate Institutional Positions on Deribit

Coinbase plans a Sept. 9 migration of International Exchange accounts to Deribit, involving forced settlement, 30-minute downtime, and position recreation at market prices.

Woofun AI reports that Coinbase intends to migrate International Exchange institutional accounts to Deribit on Sept. 9, a process involving the cancellation of open orders, settlement at mark prices, and recreation of positions via matched trades. The transition entails approximately 30 minutes of downtime, with read-only access to new subaccounts available from Aug. 31 for verification. Clients must update API credentials, close existing margin loans, and preserve historical data, as legacy records will not transfer to Deribit.