The SPAC would have to convince Coinbase that it's in their interests to go public via reverse merger rather than direct listing. This seems pretty unlikely, given that they've already filed their S-1, announced the direct listing, and presumably have done all the paperwork related to being a public company.

There's a bit of an adverse-selection problem with SPACs: not only do they need to find an undervalued asset that the public markets will value for more than the acquisition price, they need to convince that asset that the SPAC adds value and can take them public easier than doing the process themselves would. Big tech companies like Coinbase, AirBnB, and Roblox have plenty of money to hire the lawyers, accountants, and investment bankers that going public themselves requires.