Now that is a damn fine question but I would presume the answer would be "yes" lest CB flirt with the danger of 'commingling' of funds between two separate, legal entities. The custody side has to be separate from the exchange side.
Discussion
Yep, i too understand that’s what is SUPPOSED to happen .. but given the failure of two “regulated custodians” recently, and (GBTC)/Coinbase’s lack of transparency/inability to confirm GBTC’s alleged spot holdings .. kinda makes public verification more important .. and therefore whether funds are comingled so important
Coinbase hasn’t exhibited trustworthy behaviour imo 🤷♂️