Coinbase International Exchange migrates to Deribit, downtime expected Oct 1

Coinbase International Exchange is shutting down for up to an hour on October 1, 2026, as the company moves its institutional derivatives clients onto Deribit, the crypto options giant it acquired for roughly $2.9 billion last year. The migration, set to begin at 09:00 UTC, will transfer accounts, portfolios, balances, and open positions from the existing International Exchange infrastructure to new subaccounts on Deribit. How the migration actually works Coinbase is calling it a “hard migration,” which means all open orders on the International Exchange will be canceled outright. Existing positions will be settled at the International Exchange mark price, then recreated on Deribit through matched “Migration” block trades executed at those same prices. One critical detail for anyone running automated trading systems: existing International Exchange API keys will not work on Deribit. Traders who rely on algorithmic strategies will need to generate new API keys and reconfigure their connections before the switch. To soften the blow, Coinbase provisioned read-only access to new Deribit accounts starting September 22, giving clients about nine days to inspect their new accounts, create...