i do not know why you are being downvoted. coinbase is not market maker - in the traditional sense of the word.

“market maker” has a very specific meaning. just because they can “move markets” or “list coins” does not make them market maker.

They provide liquidity by internalizing orders and never bothering to acquire the underlying. Isn’t that the definition?

What you're describing is a typical aspect of brokers. Market makers provide large standing buy and sell orders so that anyone who wants to buy/sell a security at ~market price can do so.

I just described the sausage making of, “anyone who wants to buy/sell a security at ~market price can do so.”

I’m sorry you don’t like sausage.

No.