NBA star Kevin Durant has regained access to a long-dormant Coinbase account where he purchased Bitcoin (BTC) in 2016, according to Coinbase CEO Brian Armstrong.
Armstrong confirmed on X this week that the company had completed Durant’s account recovery, ending speculation about the fate of funds stored during the cryptocurrency’s early years.
“We got this fixed. Account recovery complete!”
According to reports, Durant first bought BTC after attending a 2016 dinner with investor Ben Horowitz and agent Rich Kleiman, sparking his interest in digital currencies when BTC traded near $650. Shortly afterward, Durant lost the credentials to his Coinbase account, leaving the cryptocurrency inaccessible even as its value soared.
The account remained inactive for nearly a decade as Bitcoin appreciated about 180-fold, dramatically increasing the value of Durant’s original holdings. According to sources close to the situation, Coinbase’s support team worked with Durant to confirm his identity and restore access, following heightened public attention after Kleiman discussed the ordeal at a technology conference.
Durant’s investment firm, Thirty Five Ventures, previously backed Coinbase and has included the platform in its portfolio since 2017. Durant has also appeared in Coinbase advertising and promotional campaigns.
BTC is worth $115,977 at time of writing, down 1.5% in the last 24 hours.
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