NBA star Kevin Durant has regained access to his Bitcoin, successfully resolving a nearly decade-long lockout from his Coinbase account. This development comes as Bitcoin surged in value, increasing by more than 17,700% during the time Durant was unable to access his assets.
Coinbase CEO Brian Armstrong confirmed the account recovery via a post on X, responding to a viral tweet that highlighted Durant’s previous difficulties. The resolution followed a conversation between Durant and his business partner, Rich Kleiman, at CNBC’s Game Plan conference, where they discussed the challenges of recovering the account. “It’s just a process we haven’t been able to figure out,” Kleiman explained, though he added that the appreciation in Bitcoin’s value over the years has ultimately worked in their favor.
Durant first invested in Bitcoin back in 2016 after being introduced to the cryptocurrency by teammates during his time with the Golden State Warriors. At that point, Bitcoin was valued between $360 and $1,000 per coin, with estimates suggesting Durant purchased at around $650 per coin. Today, the price has skyrocketed to nearly $116,000, according to CoinMarketCap data. However, neither Durant nor Kleiman disclosed the specific amount of Bitcoin held.
In addition to his investment, Durant, along with Kleiman, has been involved with Coinbase as investors and has promoted the platform through their media venture, Boardroom.
This incident has underscored ongoing frustrations expressed by other Coinbase users who have faced difficulties in recovering their accounts or obtaining support. Armstrong acknowledged these issues and indicated that the company is making a concerted effort to enhance customer support services moving forward.
