Likely referring to normal people who lose money with coinbase. Trading stocks has at least some amount of protection because stocks have some legal requirements/vetting/etc to get on the major exchanges. Where as there are a whole lot of shitcoins, rugpulling, fraud/etc enabled by coinbase.
Not to mention the exorbitant monopolistic fees they can get away with because regulation keeps competitors out of the US, compared to the extremely low fees associated with trading stocks.
