Coinbase Introduced Feature Supporting Crypto Allocation Sharing For Users

By Tracy Hannes | November 14, 2021

The entire verified customer pool of US-based crypto exchange heavyweight Coinbase – around 68 million – will have the ability to make their portfolio data public in a more simplified manner. 

Specifically, via a blog post on November 12th, senior product manager Rishav Mukherji reportedly revealed that the scope of the crypto exchange’s app has now been widened to cover a feature that shares a user’s allocation percentage, not balances, to their network of friends.

He further claimed that this initiative would be among the first developments in the coming weeks for users to start sharing extra specifics on trades carried out on Coinbase.

“We want to empower the crypto economy to share knowledge and information and learn from each other,” Mukherji reportedly remarked. 

With a reported 8.8 million month-to-month active users up to Q2 of this year, Coinbase is reportedly among the top-tier crypto exchanges in America, reporting a figure over $1.2 billion in revenue in Q3.

The overall profits of the company reportedly hit  $406 million the same quarter, marking a 74.7% slump compared with those of Q2.

The social media integration is essentially a new initiative for Coinbase, despite a few would argue that big names publicly disclosing even the percentage allocation of their funds is a market indicator.

This week, Apple CEO and billionaire Tim Cook reportedly shared for the first time ever that crypto takes up a proportion in his portfolio, but he offered no specific details as to which type and how much.

Others, including Shark Tank star Kevin O’Leary and Mad Money host Jim Cramer, have employed a more open perspective regarding the disclosure of the crypto percentages of their portfolios.

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