Kevin Durant #35 of the Phoenix Suns looks on during the second half against the Houston Rockets at PHX Arena on March 30, 2025 in Phoenix, Arizona.
Chris Coduto | Getty Images
NBA icon Kevin Durant’s inability to access his Coinbase account, containing Bitcoin purchased during his Golden State Warriors tenure in 2016, may have inadvertently become a lucrative investment strategy. Durant’s agent, Rich Kleiman, revealed this unexpected situation at CNBC’s Game Plan conference in Los Angeles.
“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 stated, emphasizing the unintentional benefits of the forgotten password. “It’s just a process we haven’t been able to figure out, but Bitcoin keeps going up … so, I mean, it’s only benefited us,” he added.
Durant’s initial foray into Bitcoin occurred around 2016, sparked by conversations with teammates during a dinner with Kleiman. “I just heard the word ‘bitcoin’ 25 times this evening, and the next day, we started investing in bitcoin,” Kleiman explained. The specific amount Durant allocated to Bitcoin remains undisclosed. He will play for the Houston Rockets this upcoming season.
Back in 2016, Bitcoin fluctuated between $360 and $1,000. Currently, the cryptocurrency trades near $116,000, marking an astonishing increase of over 11,000% from its highest value during Durant’s initial investment period. This remarkable growth underscores the potential gains, even from passively held digital assets.
Bitcoin since 2020
Speaking to CNBC on Wednesday, Kleiman clarified that the account access issue has persisted for “a few years” due to “a user error on our end.”
“We’ve already been working directly with the Coinbase team on Kevin’s account recovery, which is why it was easy for me to make a joke about it on stage,” Kleiman said, suggesting a collaborative effort to resolve the issue. This highlights the complexities, and sometimes frustrations, of digital asset management, even for high-profile investors.
Kleiman also emphasized his and Durant’s investment in Coinbase Global, citing the company as “a valuable resource in growing our business.” This relationship extends beyond simple investment; in 2021, their Thirty Five Ventures partnered with Coinbase in a multiyear deal to promote the platform, producing content related to digital assets for Durant’s website, Boardroom. This collaboration demonstrates the increasing integration of cryptocurrency platforms with the sports and entertainment industries, leveraging celebrity influence to broaden adoption.
In response to the situation, Coinbase issued a statement asserting that users can easily reset passwords using self-service tools within the platform’s app. The exchange also provides 24/7 support for account recovery and other inquiries. However, the Durant case underscores that even with robust security measures, human error can still create access barriers. This situation could also raise questions about Coinbase’s account recovery process, especially for high-net-worth individuals or celebrities who may require a more personalized service.
