Kevin Durant Unable to Access Coinbase Bitcoin Account Amid Surging Crypto Value
NBA star Kevin Durant has been locked out of his Coinbase account containing bitcoin he began acquiring in 2016, a circumstance that his agent describes as unexpectedly advantageous. Durant’s bitcoin investments, initiated during his Golden State Warriors tenure, have appreciated dramatically despite the account access issues.
Bitcoin Investment Originated in 2016
Durant’s agent, Rich Kleiman, explained that the basketball player started purchasing bitcoin after attending a dinner where the cryptocurrency was a frequent topic of conversation among teammates. At that time, bitcoin prices fluctuated between approximately $360 and $1,000.
“I just heard the word ‘bitcoin’ 25 times this evening, and the next day, we started investing,” Kleiman recalled. Although the exact amount of bitcoin acquired has not been disclosed, the asset’s current price has surged to nearly $116,000 per bitcoin—over 11,000% higher than its peak during Durant’s initial purchases.
Account Access Issues and Recovery Efforts
Durant has reportedly been unable to access his Coinbase account for several years due to credential mismanagement. Kleiman confirmed ongoing collaboration with Coinbase’s support team to recover account access, emphasizing that the situation has prevented any bitcoin sales, which, given the asset’s appreciation, has been financially beneficial.
“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,” Kleiman said at CNBC’s Game Plan conference in Los Angeles.
Partnership with Coinbase and Digital Asset Ventures
Beyond personal investment, Durant and Kleiman are investors in Coinbase Global and have engaged in a multi-year partnership through their venture firm, Thirty Five Ventures. This collaboration includes promoting Coinbase and developing digital asset-related content for Durant’s sports and entertainment platform, Boardroom.
A Coinbase spokesperson noted that users can reset their passwords via self-service tools within the app and that a dedicated support team is available 24/7 to assist with account recovery and related inquiries.
FinOracleAI — Market View
Kevin Durant’s inability to access his Coinbase bitcoin account highlights common user challenges in cryptocurrency asset management, particularly around account security and recovery. While this situation has inadvertently locked in gains due to rising bitcoin prices, it underscores the importance of secure credential management for digital assets.
Investors and platforms alike should watch for improvements in user support and account recovery processes to mitigate such risks. Additionally, Durant’s high-profile association with Coinbase reinforces the platform’s visibility but also draws attention to potential vulnerabilities in user experience.
Impact: neutral
