NBA Star Kevin Durant's Untouched Coinbase Account Turns into a Cryptocurrency Goldmine

Kevin Durant, the NBA superstar renowned for his moves on the court, has also struck gold off the court—albeit unintentionally. Durant's long-dormant Coinbase account, left untouched for years, has yielded staggering returns thanks to Bitcoin's meteoric rise. Rich Kleiman, Durant’s agent and trusted business collaborator, recently unveiled the fascinating story, highlighting how the forgotten investment has morphed into a financial triumph.

Bitcoin Investment Left Unrealized Due to Login Troubles

Speaking at the “Game Plan” conference hosted by Boardroom in Los Angeles, Kleiman recounted the tale during an interview with CNBC. According to him, Durant’s inability to recover the login credentials for his Coinbase account effectively froze any access to his Bitcoin holdings—a twist of fate that ironically worked in their favor.

“We still haven’t figured out how to access Durant’s Coinbase account, so none of the Bitcoin has been sold,” explained Kleiman. “Bitcoin’s price has been surging nonstop, and while it’s a tricky situation, it’s turned out to be a blessing in disguise,” he joked as he reflected on the unexpected gains.

Origins of the Dormant Cryptocurrency Fortune

The origins of Durant’s Bitcoin investment date back to pivotal events in 2016. Shortly after joining the Golden State Warriors, Durant attended a birthday dinner hosted by venture capitalist Ben Horowitz. The evening's conversations revolved heavily around Bitcoin, a topic that intrigued both Durant and Kleiman.

“I must have heard the word ‘Bitcoin’ at least 25 times during that dinner,” Kleiman recalled. “It was enough to spark curiosity, and the next day, we started making investments in Bitcoin.” Back then, Bitcoin was trading between $360 and $1,000. Fast forward to today: as of September 19 at 6:26 a.m., Bitcoin is valued at $11,7387 per unit according to CoinMarketCap. This represents an astronomical increase of over 11,000% since their initial purchase. If Durant invested $10,000 back then, the value of his holdings would now sit at several million dollars.

The Irony: Coinbase Backers Unable to Access Their Account

Adding another layer of intrigue to the story is the irony surrounding Durant’s relationship with Coinbase. Both the player and his agent are investors in the cryptocurrency exchange platform. Their company, Thirty Five Ventures, inked a multi-year partnership with Coinbase in 2021 to create promotional content for the platform under Durant’s media brand, “Boardroom.” Despite this high-profile association with Coinbase, they faced user setbacks when trying to access the account—a problem Kleiman attributed to their own oversight.

“This whole ordeal boils down to user error on our part,” admitted Kleiman. “Luckily, we’re working closely with Coinbase now to recover the account and resolve the issue.”

Has Durant Regained Access to His Account?

A potential breakthrough in the story emerged with reports from Business Insider suggesting Durant may have regained access to his Coinbase account. Sources close to both Kleiman and Coinbase hinted at this development. Nonetheless, neither Durant nor his team has officially confirmed the recovery, leaving fans and crypto enthusiasts eager for further details.

Conclusion: A Testament to the Power of HODLing

Durant’s forgotten Coinbase account serves as a testament to the potential rewards of long-term cryptocurrency investment—even when driven by accidental circumstances. The tale of his untouched Bitcoin fortune underscores the unpredictable yet transformative nature of the crypto market. With Bitcoin’s continual rise and renewed access to his account reportedly in progress, Durant’s brush with cryptocurrency history offers a unique glimpse into the intersection of sports, technology, and finance.