If Coinbase starts getting included in broad market ETFs, leading to significant holdings in mutual funds and retirement accounts, it will greatly de-risk the chance of US gov killing bitcoin: nuking grandma's investments is political suicide. I think we just witnessed a significant step in the process of bitcoin becoming too big to fail.
This is the craziest bitcoin fanboys narrative to date! Coinbase has other coins, not just the scheme called "Bitcoin"!
Bitcoin has a bigger market cap than all of the rest of them combined.