NBA superstar Kevin Durant has successfully regained access to his bitcoin holdings after being locked out of his Coinbase account for nearly ten years. During this period, BTC's value skyrocketed by an astonishing 17,700%.
"Account recovery complete - we've resolved this issue," announced Coinbase CEO Brian Armstrong via X, responding to viral discussions about Durant's access problems.
The recovery follows recent comments from Durant and business partner Rich Kleiman at CNBC's Game Plan conference about the prolonged lockout. "It's been a complex process we hadn't solved until now," Kleiman stated, adding that "bitcoin's continuous appreciation actually benefited our position during this period."
Durant initially purchased bitcoin in 2016 after learning about cryptocurrency from his Golden State Warriors teammates. With BTC trading between $360-$1,000 at that time, his acquisition price averaged approximately $650 per coin.
Current CoinMarketCap data shows bitcoin trading around $116,000, though the exact size of Durant's cryptocurrency portfolio remains undisclosed.
Notably, Durant and Kleiman are both Coinbase investors and have promoted the platform through their media company Boardroom.
This development occurs amid increasing user concerns regarding account access issues and customer support responsiveness at major cryptocurrency exchanges. Armstrong has publicly acknowledged these challenges, emphasizing the company's renewed commitment to enhancing customer service experiences.