🚨 Deribit shifted ~90% of client assets to Coinbase and dropped its daily proof-of-reserves check, replacing it with less transparent VARA reports. This reduces real-time visibility into client fund safety, raising custody concerns for traders. Market implication: increased counterparty risk perception could pressure COINBUSDT sentiment, especially if smart money rotates to exchanges with stronger, frequent PoR transparency. How will this affect trust in Deribit’s long-term viability?
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