Your answer is here: http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/Class-Action-Lawsuit-Against-Coinbase-for-Aiding-and-Abetting-Theft.pdf
COINBASE account, with full knowledge that CRYPTSY charged its customers a 0.3%
transaction fee on the value of each transaction, COINBASE could not have reasonably believed
that CRYPTSY was conducting nearly $1,700,000,000.00 USD in cryptocurrency exchange
trading business over the stated time period.
58. Likewise, COINBASE could not have reasonably believed that VERNON had
personally mined and owned the $3,300,000.00 USD he deposited and liquidated through his
personal COINBASE account.
XX. Likewise, BitPay could not have reasonably believed that the bitcoin wallet address 1QAHVyRzkmD4j1pU5W89htZ3c6D6E7iWDs registered to BFL by BitPay but at one time declared by BFL, Bitpay AND HashTrade to be owned by HashTrade (proof: http://www.prweb.com/releases/2013/10/prweb11283333.htm), was used to ONLY process orders paid via bitcoins by BFL users using the licensed BitPay as the third-person payment provider, oppose to liquidating bitcoins transferred to BFL from BitPay using the exact same address, a course of action in which BitPay IS NOT licensed to conduct such transactions, namely because BitPay IS NOT an exchange, but nonetheless, BitPay preceded to liquidate BFL's bitcoins into fiat, depositing over U$10M in numerous banks accounts controlled by Sonny Vleisides, owner of BFL.
If the latter part of the above sounds familiar, it's because Sonny utilized the same ploy for his Laissez Faire City, online casinos (with Jeff Ownby), and Lottery schemes circa 1995-2008. But don't worry, Sonny's on a new track now, finally taking advice from the person who helped raised him during his high school years, namely Jody Drake. ALL FUCKIN DOCUMENTED!!!
EDIT: I forgot to mention that BitPay liquids it's bitcoins to fiat via Coinbase, an entity having a valuation of U$1B (with a B) but needs to garner another U$100M from investors so to make their platform more robust. It's only a coincidence that Coinbase and BitPay have many of the same deep-pocket investors.