NBA Superstar Kevin Durant Recovers Lost Bitcoin Holdings on Coinbase
Nearly a decade after investing in Bitcoin, NBA superstar Kevin Durant has successfully regained access to his cryptocurrency holdings on Coinbase, thanks to the platform’s account recovery process. The news was announced by Coinbase CEO Brian Armstrong on X, formerly known as Twitter, on Thursday evening. Armstrong shared a post stating, “We got this fixed. Account recovery complete!,” confirming the successful recovery of Durant’s account.
Source: Brian Armstrong
Durant, a 15-time NBA All-Star who will be playing for the Houston Rockets this season, shared the story of his lost Bitcoin at the annual Gameplan Summit in Santa Monica on Tuesday. He recounted how he first discovered Bitcoin around 2014 or 2015 by watching YouTube videos and encouraged his agent, Rich Kleiman, to explore the cryptocurrency. After initially being shut down by their business manager, they began investing in Bitcoin about a year later, inspired by a conversation with Ben Horowitz, co-founder of venture capital firm a16z.
Kleiman noted that they had been unable to track down Durant’s Coinbase account information, resulting in the Bitcoin remaining untouched. Losing access to a Coinbase account can be a significant issue, as users are locked out without recovery details like two-factor authentication codes or email access. Fortunately, Durant’s account has now been recovered, and his Bitcoin holdings have significantly increased in value over the years.
Bitcoin Price Surge
In 2016, the price of Bitcoin fluctuated between approximately $400 at the start of the year and $1,000 by the end of the year, according to data from CoinGecko. Since then, the price of Bitcoin has skyrocketed by over 11,470%, currently sitting at $115,480 as of writing. Neither Durant nor his agent has disclosed the exact amount of Bitcoin they purchased at the time.
Source: ErikAstramecki
Durant’s account recovery has drawn responses from users who have faced similar issues but with different outcomes. Some users have reported being locked out of their accounts for years without success in recovering them. Coinbase CEO Brian Armstrong addressed these concerns by reposting a thread from one of the platform’s customer support team leaders, outlining improvements being made to the customer support system.
Coinbase Customer Support Improvements
Armstrong stated, “We’re putting a big focus on getting better at customer support at both ends — improving products so fewer people need support, and providing a faster, higher quality experience when you do.” The thread highlighted the platform’s efforts to enhance its customer support, aiming to provide a better experience for users.
Source: Brian_Armstrong
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