El MnM on Nostr: People is defending Coinbase because they use very robust cold storage, with three ...

People is defending Coinbase because they use very robust cold storage, with three different wallets held by different groups of people etc.
But a hack is not the only source of havoc.
Unpaid debt from fractional reserve or state attack could happen.

Giving your coins to Coinbase does not align with the principles of decentralization.