Don't you think Steem is too open for them? We would be easily able to track all of the transactions that they do here and i doubt they want the whole world to see what they do with the money, but thats just speculation just like saying that because the head of Coinbase is pro Ethereum, he could see Steem as competition.
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Well it wouldn't be any different than having steem on any of the other exchanges that it is on currently. There are just a ton of retail traders on Coinbase and that is one of the few fiat gateways in all of crypto, especially for US based users.