Kevin Durant regained access to a Coinbase account opened nearly ten years ago after Coinbase completed an account recovery process, confirmed by CEO Brian Armstrong. The restored account contains Bitcoin purchased in late 2016, now worth multiples of his original investment.
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Kevin Durant Coinbase account recovered
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Durant bought Bitcoin in late 2016 (~$650); holdings now valued near $117,000 per coin.
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Coinbase CEO Brian Armstrong confirmed the recovery after a public inquiry at CNBC’s Game Plan conference.
Kevin Durant Coinbase account recovery confirmed — Coinbase restored access to Bitcoin bought in 2016; read the full update and implications.
What happened with Kevin Durant’s Coinbase account?
Kevin Durant’s Coinbase account recovery was confirmed by Coinbase CEO Brian Armstrong after Durant’s team reported a years-long login issue at CNBC’s Game Plan conference. Coinbase completed its recovery process and restored Durant’s access to Bitcoin bought in late 2016.
How did the account become inaccessible?
The issue surfaced when Durant’s business partner, Rich Kleiman, said Durant had been unable to log in for years. Coinbase later addressed the public query and confirmed the recovery. No evidence of funds being moved was reported during the inaccessible period.
Why does the recovery matter for Durant?
Front-loaded value:recovering the account returns direct control over assets purchased roughly a decade ago. Bitcoin bought in late 2016 at about $650 per coin would now trade near $117,000 per coin, magnifying the value of those early purchases.
How significant are the gains on 2016 Bitcoin purchases?
At Durant’s entry price, a $10,000 investment in late 2016 would now be worth approximately $1.8 million based on the $117,000 per-coin figure. Even a single coin purchased then would have appreciated into six-figure territory.
What is Durant’s relationship with Coinbase?
Durant and partner Rich Kleiman invested in Coinbase through their 35V firm in 2017 and later signed a marketing agreement that made Durant a public ambassador for the exchange. Despite those ties, the recovered assets were purchased prior to the partnership.
When was the recovery publicly confirmed?
Coinbase CEO Brian Armstrong publicly confirmed the account recovery on social media hours after the issue was raised at CNBC’s Game Plan conference in Los Angeles. The company described the matter as resolved and access restored.
Frequently Asked Questions
Can Coinbase recover accounts opened nearly ten years ago?
Yes. Coinbase has account recovery procedures that can restore access to long-dormant accounts after successful identity verification and support review, as demonstrated in this case.
Did Durant lose his Bitcoin permanently?
No. According to Coinbase’s confirmation, Durant regained access and control of assets that had been inaccessible, indicating the funds were not permanently lost.
Key Takeaways
- Recovery confirmed: Coinbase completed an account recovery for Kevin Durant, restoring access to Bitcoin purchased in late 2016.
- Substantial gains: Bitcoin purchased at ~ $650 per coin would now be valued near $117,000 per coin, representing large realized appreciation in fiat terms.
- Established ties: Durant’s prior investment and ambassador role with Coinbase underscore a longer relationship between the athlete and the exchange.
Conclusion
The Kevin Durant Coinbase account recovery underscores how exchanges handle long-dormant accounts and the value that can accrue to early cryptocurrency purchasers. COINOTAG will continue to monitor official statements and publish updates as verified information becomes available.
