by Coinstrooper Crypto Articles
Quick Take
  • Kleiman recounted the story at CNBC’s Game Plan conference in Los Angeles this week.
  • “I just heard the word ‘Bitcoin’ 25 times this evening, and the next day, we started investing in Bitcoin,” Kleiman recalled at the event.
  • Bitcoin was trading at about $600 when Durant first bought in.
  • Because Durant could not access his account for years, those holdings remained untouched.

What Happened

“I just heard the word ‘Bitcoin’ 25 times this evening, and the next day, we started investing in Bitcoin,” Kleiman recalled at the event. He did not disclose how much Bitcoin was bought.

Durant has been closely tied to Coinbase for years. He and Kleiman invested in the company in 2017 through their venture firm Thirty Five Ventures. Since 2021, Durant has also been a brand partner for the exchange.

He is also part of a growing group of NBA players who have embraced digital assets. Cleveland Cavaliers center Tristan Thompson launched a Web3 fan engagement project this week, while Charlotte Hornets guard Spencer Dinwiddie once tried to tokenize his NBA contract.

Market Context

The issue dated back to 2016, when Durant and his agent Rich Kleiman first bought Bitcoin after attending a birthday party hosted by venture capitalist Ben Horowitz. Kleiman recounted the story at CNBC’s Game Plan conference in Los Angeles this week.

Bitcoin was trading at about $600 when Durant first bought in. Today, the price hovers near $117,000. This marks an almost 200-fold jump in value.

Why It Matters

Because Durant could not access his account for years, those holdings remained untouched. As a result, they sat through one of the most dramatic bull runs in financial history.

Details

Kevin Durant has regained access to his long-dormant Coinbase account, ending frustration over misplaced login details and restoring control of Bitcoin bought nearly a decade ago.

The Houston Rockets forward, who begins his 18th NBA season this year, successfully reset his account with help from Coinbase support tools, CEO Brian Armstrong confirmed on X.

With Account Restored, Durant Gains Access to Soaring Bitcoin Holdings

The problem stemmed from lost login credentials, something Kleiman joked about on stage.

“But Bitcoin keeps going up … so, I mean, it’s only benefited us,” he said. That process is now resolved.

Durant’s Venture Bets and Coinbase Ties Span Nearly a Decade

Durant’s crypto journey began just as his basketball career reached new heights. He had joined the Golden State Warriors in 2016 and won his first NBA championship the following season. Now with the Rockets, he is the league’s seventh all-time leading scorer.

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