Coinbase

United StatesFounded 2012coinbase.com ↗

Last reviewed 2026-08-29 · Methodology v1.0

Centralized Exchange

VIF Score ⓘ

73.8B

of 10
VIF rankings

Reported Reserves

$42.1B

N/A

Liabilities

Externally Verified

Auditor only

Proof Age

89 days

Stale · Quarterly/annual financial filings cadence

Verification

Deloitte & Touche

Financial statements · Independent verifier

Transparency Snapshot

No crypto-native proof

Coinbase evidences reserves via audited financial statements, independent verification (Deloitte & Touche) has been identified.

Primary limitation: Coverage applies only to assets within the scope of the published proof.

Reserve Coverage

Not disclosed

Reported total reserve rate

Reserve coverage reflects only assets within the scope of the published proof, and does not by itself establish solvency. The exchange does not publish a total reserve rate that Verifelse currently recognizes.

Reserve Asset Composition

A per-asset reserve composition is not published for this exchange.

Proof of Reserves

Audited Financial StatementsNo crypto-native PoRProves liabilities

States it holds customer assets 1:1 per audited filings, but does not publish wallet-address mappings or on-chain self-verification (CryptoQuant transparency rank ~44.3).

MethodologyNo crypto-native Merkle/zk PoR for exchange balances; proves reserves via audited financial statements as a public company (NASDAQ: COIN), with customer crypto reported on-balance-sheet under SAB 121.

Auditor / VerifierDeloitte & Touche LLP (financial statement audit)

CadenceQuarterly/annual financial filings

Snapshot as of2026-06-30

Official proofsec.gov ↗

Proof & Verification Artifacts

Verification matrix

Proof type

CryptographicAttestationFinancial statementsNone

Proof of Liabilities

LPORGlobal ZKMerkle-sumMerkle-inclusionAuditor-onlyNone

Wallet disclosure

FullPartialNone

Inclusion check

FullPartialNone

Verification tool

Open-source verifierInclusion self-checkNone

Third-party assurance

Financial auditAttestationAgreed-upon proceduresNone

Options are ordered strongest to weakest; the highlighted option reflects the proof method Verifelse recognizes for Coinbase. This describes the method, not a solvency guarantee.