"Coinbase is insured against theft and hacking in an amount that exceeds the average value of bitcoin we hold in online storage at any given time."

Yet elsewhere you claim that only 3% of deposits are online, so 97% of deposited bitcoin are uninsured.
Are we supposed to pretend that the 97% offline have zero risk of theft? If that was true why aren't those 97% insured also?
Wow. Sneaky.