Bitcoin is permissionless money, a bearer instrument requiring no trusted third parties. He who controls the UTxO owns the Bitcoin, everyone else has an IOU.

Coinbase is a third party with a lot of trust placed in them. There are better exchanges but I'd trust none of them to hold my Bitcoin long term.

The first sign that an exchange is collapsing is often the halting of withdrawals. It's essentially a modern day bank run at that point.

Bitcoin bestows a lot of power to the individual that takes responsibility for holding their wealth. Taking responsibility is an important step to breaking the bonds that have been placed upon us. It feels scary but incredibly empowering.