According to CoinMeta, after the announcement that Coinbase shares would be migrated to Deribit, the stock price rose to around $146.50 in pre-market trading, slightly higher than the closing price of the previous trading day. Coinbase has informed institutional clients that their accounts on the Coinbase international exchange will be migrated to Deribit on September 9th, as part of its international derivatives trading plan. It is expected that trading will be suspended for about 30 minutes upon completion of the migration, during which all outstanding orders will be cancelled. The existing API keys will not be transferable, and users will need to create new keys after the migration. Coinbase requires clients who do not wish to participate in the migration to close all positions and cancel their accounts by August 28th. Investors will be watching to see if this migration will help Coinbase expand its business among larger trading firms.