Kevin Durant Almost Lost Millions in Bitcoin From a Common Mistake

Many of the top NBA players aren’t just basketball players. They are brands, companies, and investors. LeBron James and Michael Jordan are billionaires, and not just from playing basketball. Those two are huge brands themselves and have invested in restaurant chains, basketball teams, and much more. 

Kevin Durant may be less known as a businessman than those two, but he still has tons of different income streams. He and his agent/business partner, Rich Kleiman, have dipped their toes into tons of different business ventures. They’re known to have invested in companies like Overtime, Postmates, Acorns, and Coinbase.

The last of those companies, Coinbase, is where Durant almost lost tons of money from a common crypto-investor mistake. 

At a recent CNBC SportXBoardroom: Game Plan event, it was revealed that Durant and Kleiman started investing in Bitcoin in 2016, but they have not been able to access the account because they lost the password.

This had many in the NBA and crypto communities in an uproar. Even $10,000 invested in Bitcoin back in 2016 could be worth over $1 million today. 

Shortly after this was revealed, it was reported by Business Insider that Durant and Kleimen were able to get into the account. How much was in there was not revealed, however. 

This story should be a cautionary tale. Remember your passwords! Especially for cryptocurrency accounts, where users have lost millions from simply not remembering or losing their passwords. 

For Durant, it sounds like once it became public, it was an easy fix. After all, he is one of the early investors in Coinbase and has been promoting the company for years. They owed it to him to let him get back into his account and find what treasures lay waiting.