Is Coinbase a Web3?

I'm curious to understand if Coinbase can be classified as a Web3 platform. Coinbase, as a leading cryptocurrency exchange, offers users a range of services including buying, selling, and storing digital assets. However, the term 'Web3' typically refers to a decentralized internet that leverages blockchain technology to empower users with greater control and ownership over their data and transactions. So, does Coinbase embody the principles and functionalities of Web3, or is it primarily focused on facilitating transactions within the existing financial ecosystem? How does Coinbase's approach to security, privacy, and decentralization align with the vision of Web3? I'm eager to hear your thoughts on this topic.