It makes sense when you understand Coinbase's job is to make fiat profit for their shareholders and when people trade shitcoins the exchanges make a fuckload of fiat from transaction fees.

Unfortunate for them because it's a dumb long term incentive to follow vs holding more BTC, but that's publicly traded companies for you.

(Ofc the other companies here are also publicly traded but they're not exchanges, so they have different incentives.)