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To describe Coinbase's decision as unexpected wouldn't be amiss considering the exchange's decision to submit a trademark request for the non-word "buidl," as Hard Fork reports.
According to the application document, the trademark is made in relation to “Software as a service (SAAS) services featuring software for transactions using virtual currency, namely, software for managing, buying, selling, storing, transacting, exchanging, sending and receiving virtual currency.”
The application further explains that the trademark will be used together with “temporary use of non-downloadable computer software for use in accessing, reading, tracking, trading and using tokens via blockchain technology.”
As Hard Fork speculates, the above descriptions do make it sound as if Coinbase in the midst of developing some cloud-based developer tools for the buying and selling of cryptocurrencies.
However you feel about Coinbase trying to trademark a misspelled word, you can't argue that they have a sense of humor. The community seems to agree
Looks like @coinbase is trying to trademark "BUIDL" https://t.co/X8qusFLQbY pic.twitter.com/vmqjVnOcYO
— Jameson Lopp (@lopp) December 6, 2018
You will be hedl accountabl
— nic carter (@nic__carter) December 6, 2018