unlikely. FTX was a tiny tech startup with an office in the Bahamas. Coinbase is a publicly traded US company with all the regulatory oversight that requires.

There is a 0% chance that coinbase is defrauding Blackrock and the others it's operating as a custodian for.

The people running coinbase would spend the rest of their lives in prison. SBF might be stupid enough to walk down that path but the guys at coinbase are not so stupid.