NBA Star Kevin Durant Recovers Bitcoin From Coinbase Account
Kevin Durant has regained entry to his long-dormant Coinbase account, ending frustration over misplaced login particulars and restoring management of Bitcoin purchased almost a decade in the past.
The Houston Rockets ahead, who begins his 18th NBA season this yr, efficiently reset his account with assist from Coinbase help instruments, CEO Brian Armstrong confirmed on X.
The subject dated again to 2016, when Durant and his agent Rich Kleiman first purchased Bitcoin after attending a celebration hosted by enterprise capitalist Ben Horowitz. Kleiman recounted the story at CNBC’s Game Plan conference in Los Angeles this week.
“I simply heard the phrase ‘Bitcoin’ 25 instances this night, and the subsequent day, we began investing in Bitcoin,” Kleiman recalled on the occasion. He didn’t disclose how a lot Bitcoin was purchased.
With Account Restored, Durant Gains Access to Soaring Bitcoin Holdings
Bitcoin was buying and selling at about $600 when Durant first purchased in. Today, the worth hovers close to $117,000. This marks an virtually 200-fold soar in worth.
Because Durant couldn’t entry his account for years, these holdings remained untouched. As a end result, they sat by means of one of the dramatic bull runs in monetary historical past.
The drawback stemmed from misplaced login credentials, one thing Kleiman joked about on stage.
“But Bitcoin retains going up … so, I imply, it’s solely benefited us,” he mentioned. That course of is now resolved.
Durant’s Venture Bets and Coinbase Ties Span Nearly a Decade
Durant has been intently tied to Coinbase for years. He and Kleiman invested within the firm in 2017 by means of their enterprise agency Thirty Five Ventures. Since 2021, Durant has additionally been a model accomplice for the alternate.
Durant’s crypto journey started simply as his basketball profession reached new heights. He had joined the Golden State Warriors in 2016 and received his first NBA championship the next season. Now with the Rockets, he’s the league’s seventh all-time main scorer.
He can be a part of a rising group of NBA gamers who’ve embraced digital belongings. Cleveland Cavaliers heart Tristan Thompson launched a Web3 fan engagement mission this week, whereas Charlotte Hornets guard Spencer Dinwiddie as soon as tried to tokenize his NBA contract.
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