To people upset about Coinbase $COIN admitting they'll take your Cryptos deposits, I have some bad news for you: traditional banks can do the exact same thing. It's called a bail in, and things like FDIC insurance won't help because the FDIC is the executor of the system.
Anyone who deposits in a bank is considered a creditor, not a depositor, and 'creditors have to pay their fair share of the company debts'. So banks are allowed to simply freeze you accounts and take everything, THEN fail and go into bankruptcy after you're not owed anything.
I believe every nation in the G20 has implemented the system, and many outside of them. They tested in it Cypress, and when people tried to sue to get their money back the EU declared it legal and threw out the case.
The main difference is if Coinbase goes down, your name still goes on the list as someone owed money, you get paid last and probably won't get all of it, but legally you're entitled to repayment. If a bank uses a bail-in, your accounts are zeroed and legally they don't owe you a cent.
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