Coinbase will suspend six cryptocurrency trading pairs on August 6, 2026, after placing five markets into limit-only mode as part of its routine market review. According to crypto.news, the affected pairs include LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT. Users can still place and cancel limit orders during the limit-only phase, while existing orders may continue to match, but Coinbase will no longer accept market orders for these affected pairs. The exchange attributed the decision to its regular review of supported markets, monitoring factors such as liquidity, trading activity and order book conditions to determine whether individual markets continue to meet its standards.
Coinbase will transfer institutional clients' International Exchange accounts, balances and positions to Deribit on September 9, with trading expected to pause for approximately 30 minutes during the cutover. According to reports from crypto.news, Cryptoslate, WuBlockchain, CoinPedia, and latest updates, clients declining the transfer must close positions and International Exchange accounts before Coinbase's August 28 opt-out deadline. Accounts left open will be treated as having accepted the updated terms and migration. The company expects to provision clients' Deribit subaccounts in read-only state on August 31, allowing institutions to test access, generate API keys, confirm portfolio mappings and request position or withdrawal limits. Retail clients using the Coinbase app and website are not included in this migration. Coinbase's institutional migration FAQ labels August 28 as the boundary for opting out, with the company stating that all stated dates, timelines and milestones remain estimates and may change.
On September 9, Coinbase will cancel every open International Exchange order and settle existing positions at the venue's prevailing mark price, crystallizing profit and loss. As reported by crypto.news, Cryptoslate, WuBlockchain, CoinPedia, and latest updates, the company will then recreate positions at the same settlement price through matched migration trades, with these entries appearing as block trades tagged "Migration" in Deribit's records. However, International Exchange and Deribit will price and settle their markets independently before the cutover, potentially creating immediate unrealized gains or losses when Deribit reopens. Coinbase's International Exchange trading rules state that migrated positions remain open and enforceable, and that the process does not constitute an ordinary closure and reopening. No trading or settlement fees will apply to the transfer itself. Coinbase explains that positions will not actually be closed during this process, and existing contracts will remain intact after the transfer.
Existing Coinbase International Exchange API keys will not work on Deribit, requiring clients to create new credentials and change endpoints. According to crypto.news, Cryptoslate, WuBlockchain, CoinPedia, and latest updates, International Exchange trading and order records will not appear inside Deribit, with Coinbase expecting to keep legacy APIs accessible for historical information for approximately 12 months. Historical trading data will remain accessible via the existing API for approximately 12 months but will not be transferred to Deribit, so users are advised to save reporting and tax records separately in advance. Margin loans will remain behind, with institutions required to close all existing loans before the cutover, initially entering Deribit's Cross Standard Margin system. Post-migration margin requirements will depend on the selected Deribit mode and any custom institutional arrangement. Custody and counterparty structures also vary by client, with some clients retaining Coinbase Bermuda Limited as broker and custodian, some trading directly with Deribit FZE while retaining Coinbase custody, and certain third-party-custody arrangements moving to Deribit Panama. Coinbase says the exact instructions depend on the client's account setup, entity, and jurisdiction, with account managers expected to provide additional steps where required.
The migration advances Coinbase's effort to turn Deribit into the main venue for its global derivatives business, following the company's $2.9 billion acquisition of the crypto options exchange in August 2025. As reported by crypto.news, Cryptoslate, WuBlockchain, CoinPedia, and latest updates, when the acquisition closed, Deribit had approximately $60 billion in open interest and had processed more than $185 billion in July 2025 trading volume. Coinbase reported $1.03 trillion in crypto derivatives trading volume during the second quarter of 2026, with the company's derivatives market share reaching a record level and increasing for a third consecutive quarter. The account integration with Deribit is seen as part of a strategy to strengthen Coinbase's position in the global derivatives market, leveraging Deribit's liquidity and infrastructure to provide institutional clients with a better trading environment while reducing operational burden on its own exchange.
The trading-pair suspensions come as Coinbase reorganizes its international derivatives business following its acquisition of Deribit. As reported by crypto.news, Coinbase also confirmed that its commercial agreement with Circle will renew automatically after both companies met the required contractual conditions, removing uncertainty surrounding the USDC revenue-sharing arrangement following Coinbase's participation in the Open USD consortium. Chief Financial Officer Alesia Haas said the existing agreement would continue despite questions about whether Coinbase's work on a potential alternative stablecoin network could affect its Circle partnership. The exchange reported second-quarter revenue of $1.22 billion, missing Wall Street's $1.29 billion estimate and falling 14% from the previous quarter as crypto trading activity weakened. Coinbase shares closed at $146.50, up 0.16%, while ARK Innovation ETF purchased 38,761 Coinbase shares worth approximately $5.68 million during the period, following ARK Invest's acquisition of about $9.4 million in combined Coinbase and Circle shares on August 3.
