Kevin Durant has regained control of a Coinbase account he could not access for years. The Houston Rockets forward reset the account this week with help from Coinbase support tools, CEO Brian Armstrong confirmed on X(Twitter).
The account held Bitcoin bought in 2016 after Durant and his agent, Rich Kleiman, attended a birthday party for venture capitalist Ben Horowitz. Durant lost the login details, and the holdings sat untouched through one of the biggest crypto rallies in history.
Account restored
Durant’s access was restored after he used Coinbase’s recovery tools. Armstrong posted about the reset on X(Twitter), and the fix ended a long period of frustration over misplaced credentials.
The recovery means Durant can now see and move the Bitcoin that had been locked behind old login information.
Also Read: Crypto Scammers Impersonates NBA Star Michael Jordan to Promote $JORDAN Meme Coin
How the purchase began?
Kleiman told the story this week at CNBC’s Game Plan conference in Los Angeles. He said the group had heard the word “Bitcoin” many times at the party and decided to buy it the next day.
Kleiman did not say how much they purchased, and he made light of the lost credentials on stage and noted that, despite the trouble, the holdings benefited from the market rise.
Value over time
When Durant and Kleiman first bought Bitcoin, the price was about $600. Today, the price is near $117,000. That represents roughly a 19,400% increase and a near 200-fold gain in value.
The coins remained untouched while the market went through dramatic gains. The missed access meant Durant did not sell or move the Bitcoin during the run-up.
Durant and Kleiman invested in Coinbase in 2017 through their firm Thirty Five Ventures. Durant also became a brand partner for the exchange in 2021. Those ties mean Durant has been connected to Coinbase for years, both as an investor and promoter.
The restored account closes a strange chapter where a high-profile backer could not access his own holdings.
Durant’s career context
Durant’s crypto interest began as his basketball life also hit a high point. He joined the Golden State Warriors in 2016 and won an NBA title the next season.
Now with the Rockets, he is set to begin his 18th NBA season and sits as the league’s 7th all-time leading scorer. His public profile has helped shine a light on athletes who are exploring digital assets.
Other players and crypto
Durant is not alone among NBA players exploring crypto, as Cleveland’s Tristan Thompson launched a Web3 fan engagement project this week. Spencer Dinwiddie previously tried to tokenise his own NBA contract.
The moves show how athletes are testing new tech and seeking fresh ways to engage fans and monetise their brands.
Regulatory and legal note
In related developments, Coinbase has asked the U.S. Department of Justice to address uneven state rules on crypto. The exchange’s letter to the DOJ came after Oregon filed a securities case against Coinbase in April.
That state-level action followed the SEC dropping its own case against Coinbase earlier this year. These legal fights highlight the complex regulatory scene that firms and public figures must navigate.
With access restored, Durant can now decide what to do with the assets. He may move, sell, or hold the Bitcoin. Fans and market watchers will likely follow any moves closely because of the price appreciation since 2016.
The story also serves as a reminder that simple things like lost login details can have major consequences when crypto prices climb.
Kevin Durant’s account recovery closes a long-running problem and brings attention to both crypto gains and practical risks. The incident shows how early adopters who forget access can still come out ahead if prices rise dramatically.