Houston Rockets star Kevin Durant has regained access to a Coinbase account holding Bitcoin he bought nearly a decade ago, ending a frustrating, years-long lockout.
The two-time NBA champion successfully reset his account with help from Coinbase’s support team, according to a post on X from CEO Brian Armstrong.
The saga began in 2016 when Durant and his business partner, Rich Kleiman, bought Bitcoin after attending a birthday party hosted by venture capitalist Ben Horowitz. At a recent CNBC conference, Kleiman recalled hearing the word “Bitcoin” repeatedly and deciding the next day to invest. He did not say how much Bitcoin they bought.
At the time, Bitcoin was trading at about $600. Its price is now hovering near $117,000, representing a staggering 200-fold increase in value. Because Durant could not access his account for years, the holdings remained untouched, riding one of the most significant bull runs in financial history. Kleiman joked on stage that losing the login details ultimately worked out, as it prevented them from selling.
Durant’s connection to Coinbase runs deep. He and Kleiman invested in the company through their venture firm, Thirty Five Ventures, in 2017. Since 2021, Durant has also been a brand partner for the exchange.
Durant’s journey into crypto began around the same time his basketball career reached new heights. He joined the Golden State Warriors in 2016 and won his first championship the following season. Now in his 18th NBA season, he is the league’s seventh all-time leading scorer.
Durant is one of several NBA players to embrace digital assets. Recent examples include Cleveland Cavaliers center Tristan Thompson, who launched a Web3 fan engagement project, and Charlotte Hornets guard Spencer Dinwiddie, who once attempted to tokenize his NBA contract.
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