Okay lots of doom porn in here and I wanna contribute! I don't think the government would just 6102 coinbase, too much heat for them and they would clearly be the bad guy. Bad for narratives.

Scenario: Government is teeing up a massive black swan event.

Suppose some fed spook commands key people in Coinbase to leave vulnerabilities. Hackers rush in and sweep Coinbase's Bitcoin. What would happen? Every ETF except Fidelity collapses. Plus whoever else was custodying with Coinbase. What would the boomers learn from this? Not your keys not coins? Don't centralize custody? No way, tradfi talking heads will be screaming "told you so" about the fake-internet-money-hacker-coins. Everyone runs back to the "safe" fiat institutions that don't have hacking problems. Mainstream adoption is set back many years. Every inch gained in "number go up" from the ETF demand evaporates. This mental high we have been riding in 2024 from all the mainstream adoption is suddenly gone.....

Why would the feds do this? Squash a threat to doller hegemony. Psyop the public into staying on the sinking ship. They get to save us with Crypto regulation, and everyone who sank with Coinbase will be crying for blood. Imagine grandma testifying before Congress who lost everything with the ETF.....