Coinbase has a bitcoin treasury? Since when?

I 100% agree. But even if I take the opposite side and assume they are well intentioned and as well run as they can be, I still think they’ll be in deep shit in the future. Nation state actors are already trying to infiltrate the company and if Bitcoin goes up 10x there will be too much of a honeypot/incentive to get hacked or compromised at some point. If hacking one company could get you $300B+ of Bitcoin someone will figure it out eventually.

Really? I think it’ll be binance first

I sure hope not, but this sort of stuff add fuel to the fire so we’ll see how they manage.

There are lots of good people out there relying to Coinbase to be honest and maintain their holdings.