I agree it's somewhat suspicious if it happens all the time, like this has happened enough times why haven't you designed your infrastructure to handle surges more gracefully, but for the most part I think it's legit.

If we assume intentional malice every time a website goes down, that's a dangerous precedent for the tech industry.

The corporations I've worked for had nothing to do with finances but managed to have several major outages I've sat in on that have lasted as little as 2 hours and as much as 48 hours. They were pretty much always network or server related, sometimes unrelated to the business entirely (a T1 line got cut accidentally by the city in one case).

Those corporations didn't want to go down, and often lost some serious money as a result. I imagine Coinbase loses out on a good amount of money every time they go down as well.

I also expect it's at least somewhat overreported or only a partial outage as well. One person has an issue and announces it and everyone just repeats it without checking themselves. There was at least two instances when I saw people say Coinbase was down and I tried logging in myself and had no issues.