In a revealing conversation during a CNBC-hosted conference, Rich Kleiman, the business partner of Houston Rockets star Kevin Durant, shared a curious challenge that the NBA superstar has faced involving his cryptocurrency investments. Approximately a decade ago, the duo became intrigued by discussions surrounding bitcoin, leading Durant to make an investment in the promising digital currency. However, their excitement took a turn when they realized they had forgotten the password associated with Durant’s Coinbase account, rendering them unable to access his bitcoin holdings.
Kleiman expressed the frustration of their situation, noting, “We’ve yet to be able to track down his Coinbase account info, so we’ve never sold anything, and this bitcoin is just through the roof.” As the value of bitcoin has skyrocketed over the years, this issue has become more pressing; the asset has surged from being valued between $360 and $1,000 in 2016 to an impressive rate exceeding $117,000 today. Even a modest investment made at that time would now represent an immense profit.
Durant confirmed that he has been attempting to recover the password for a few years, insisting it’s “in the cloud.” Despite the ongoing struggle, the stakes might not feel as high for Durant, who has amassed $447.9 million in earnings throughout his illustrious NBA career. This sum does not account for his additional revenue streams or future salaries. Currently, he stands to collect $54.7 million this year alone and is positioned for another lucrative contract, as he is eligible for free agency in 2026.
While losing access to a substantial investment in bitcoin could be distressing for many, Durant’s financial situation allows for a degree of leniency on this front. Nevertheless, the issue of recovering the password remains unresolved, even though Coinbase has tools within its app designed to facilitate password resets. Given Durant’s high profile and his partnership with Coinbase, many believe this matter could potentially be addressed swiftly.
As the value of his cryptocurrency holdings continues to rise, the resolve to unlock the password becomes a perplexing yet interesting anecdote in Durant’s financial saga.
