Coinbase, which I'm not a big fan of, goes down, it'll be because of something like what FTX was doing. And if so, whatever deity you pray you, help us all.
Why?

Coinbase may look big but it is not big enough to have as significant an effect as MtGox had on the price.
Checking
https://coinmarketcap.com/rankings/exchanges/ we can see that out of the total $127.58 billion daily volume only
2% of it or $2.6 is coming from coinbase! Only 2%. MtGox back in 2013 had more than
85% of the total daily volume.
If a CEX with 2% of the total daily volume goes down, it will have a small impact like FTX. A temporary hiccup...
