It will cause a panic sell but that's it. Collapse of coinbase exchange is not big enough to be considered catastrophic. Keep in mind that bitcoin does not rely on some centralized exchange, it is a decentralized money working fine without them; and nobody cares about altcoins (they just pump and dump regardless of what happens to exchanges).
As I said, if it happened, it wouldn't be the first major exchange to go down. None of the previous ones damaged "crypto industry" and that won't change in the future.
I wouldn't predict its demise but I'm also not sure about it not-happening...
Panic selling will certainly occur and those on the investor will also want to move their assets to other exchanges.
There will be more panic on every coin in the market, all will go down and include bitcoin, but of course this panic will soon end and everything will recover.
Remember that in the past there were more exchanges with a fairly large volume, at that time many experienced bankruptcy because they were hacked and the like.
And only the top exchanges are left that are able to survive and continue to grow in terms of management and security for users and user funds.
And yes, Bitcoin is not only on the Exchange but in every holder's personal wallet that cannot be touched by anyone.
The collapse of the Exchange is not the end of everything, but a warning that management and security need to be paid attention to and continue to be improved.
Learning from MT. Gox in the past with its security vulnerabilities and FTX as the most corrupt and embarrassing Exchange CEO.
These are some of the CEXs that have gone bankrupt, hacked and other issues, and also include current Exchange numbers (but didn't find Coinbase on this list)
| DATE | EXCHANGE | CAUSE | THE AMOUNT STOLEN (USD) |
| April 9, 2023 | GDAC | Gains access to hot wallet | $13 million |
| November 12, 2022 | FTX | Unauthorized transaction | $600 million |
| January 17, 2022 | Crypto.com | Unknown | $34 million |
| December 11, 2022 | AscendEX | Gains access to hot wallet | $80 million |
| December 5, 2021 | BitMart | Gains access to hot wallet | $150 million |
| August 19, 2021 | Liquid | Gains access to hot wallet | $97 million |
| April 29, 2021 | Hotbit | Gains access to hot wallets | 0 |
| December 23, 2020 | Livecoin | System/server compromised | Unknown |
| December 21, 2020 | EXMO | Gains access to hot wallet | $4 million |
| December 1, 2020 | BTC Markets | Internal staff error | 270,000 data user |
| September 25, 2020 | KuCoin | Data leak | $275 million |
| July 11, 2020 | Cashaa | Malware | $3.1 million |
| June 29, 2020 | Balancer | Vulnerability in protocol | $500,000 |
| April 19, 2020 | Lendf.me | Bug and re-entrancy attack | $24.5 million |
| April 19, 2020 | Uniswap | Bug and re-entrancy attack | $500,000 |
| February 5, 2020 | Altsbit | Gains access to hot wallet | $70,000 |
| December 19, 2019 | Youbit | Gains access to hot wallet | Unknown |
| November 26, 2019 | Upbit | Gains access to hot wallet | $49 million |
| November 5, 2019 | Vindaks | Unknown | $500,000 |
| July 11, 2019 | Bitpoint | System/server compromised | $32 million |
| June 27, 2019 | Bitrue | System/server compromised | $4.5 million |
| June 6, 2019 | Gatehub | Unknown | $9.5 million |
| May 7, 2019 | Binance | Gains access to hot wallet | $40 million |
| March 29, 2019 | Bithumb | Unknown | $29 million |
| March 25, 2019 | Coinbene | Alleged insider | $40 million |
| March 24, 2019 | DragonEX | Unknown | $1 million |
| February 15, 2019 | Coinmama | Data leak | 450,000 data user |
| February 1, 2019 | Cryptopia | Unknown | $16 million |
| January 26, 2019 | LocalBitcoins | Phishing | $27,000 |
| October 28, 2018 | Maplechange | Alleged insider | $51,000 |
| September 14, 2018 | Zaif | Gains access to hot wallet | $60 million |
| June 18, 2018 | Bithumb | Unknown | $31 million |
| June 10, 2018 | Coinrail | Unknown | $40 million |
| April 13, 2018 | CoinSecure | Alleged insider | $3.5 million |
| February 10, 2018 | Bitgrail | Alleged insider | $146 million |
| January 27, 2018 | CoinCheck | Unknown | $560 million |
| December 20, 2017 | EtherDelta | DNS server compromised | $1.4 million |
| July 5, 2017 | Bithumb | Unknown | $7 million |
| April 22, 2017 | Yapizon | Gains access to hot wallet | $5.3 million |
| August 2, 2016 | Bitfinex | Unknown | $623 million |
| May 9, 2016 | Gatecoin | Gains access to hot wallet | $2.14 million |
| April 7-9, 2016 | Shapeshift | Alleged insider | $230,000 |
| February 16, 2016 | BTER | Unknown | $1.75 million |
| December 11, 2015 | Bitstamp | Malware | $5 million |
| August 15, 2015 | BTER | Alleged insider | $1.65 million |
| July 13, 2014 | Mintpal | Gains access to hot wallet | $2 million |
| March 4, 2014 | Poloniex | Gains access to hot wallet | $50,000 |
| February 2014 | Mt.Gox | Various methods | $460 million |
| November 11, 2013 | Bitcash | System/server compromised | $100,000 |
| September 2, 2012 | Bitfloor | System/server compromised | $250,000 |
| March 1, 2012 | Bitcoinica | System/server compromised | $87,000 |
Source:
https://chainsightnews.com/post/deretan-exchanges-crypto-yang-jadi-korban-peretasan-sejak-2012