Is Coinbase a DAO offering?

Could you elaborate on whether Coinbase, a popular cryptocurrency exchange platform, constitutes a Decentralized Autonomous Organization (DAO) offering? My understanding of a DAO is that it is an organization represented by rules encoded as smart contracts on a blockchain, allowing for transparent and autonomous governance. Given Coinbase's centralized structure and its role as a custodian of client funds, I'm curious to know if it aligns with the decentralized principles of a DAO. Clarifying this distinction would help me better understand the nature of Coinbase's operations and its positioning in the crypto ecosystem.