After 10 years, NBA star Kevin Durant finally recovered his password. Did selling 3,000 BTC cause a market crash?

  • 2025-09-25

 

According to NBA star Kevin Durant's recent interview, around 2014 or 2015, he discovered Bitcoin by watching YouTube videos. He purchased over 3,000 BTC at the time via Coinbase. However, as time passed, he forgot about it. Later, he noticed Bitcoin's price soaring but had forgotten his password and verification details. Losing the Coinbase password means being locked out of the account. Without recovery details like two-factor authentication codes or email access, he was unable to access the cryptocurrency stored there.

At that time, Bitcoin's price fluctuated between approximately $400 and $1,000.
It wasn't until recently, after communicating with the official support and going through a series of verifications, that he finally recovered his account. According to the exchange's CEO: "After nearly a decade of losing access to his Coinbase account, NBA star Kevin Durant has regained control of his Bitcoin holdings. Nearly 10 years after buying Bitcoin on Coinbase, the NBA superstar has regained access to his holdings by completing account recovery."

This news was announced by Coinbase CEO Brian Armstrong on platform X last Thursday evening. Armstrong wrote: "We got it sorted. Account recovery complete!"

Subsequently, after gaining access to the account, Durant successfully sold off the 3,000 Bitcoins, cashing out $350 million and making a whopping 180-fold profit. According to widely circulated information, Durant's average purchase price was about $650 per Bitcoin, with a total purchase of 3,076 Bitcoins.

This matter directly trended across the United States in recent days. Before anyone could react, he quietly sold off 3,000 Bitcoins in one go, keeping less than 100 as a "memento." From a profit perspective, this easily achieved a return of around $350 million. This move can be said to have completely secured his financial freedom.

Some people say the recent market pullback is because of this, but I think it's almost impossible. Not long ago, 80,000 Bitcoins didn't crash the market; 3,000 Bitcoins is just a drop in the bucket.

Of course, after this incident was exposed, it immediately caused a stir and heated discussions inside and outside the NBA. Many players were utterly dismayed, especially Ben Simmons and Dwight Howard, who have faced financial difficulties in recent years.

Howard lamented on social media about his years of "extravagant spending," saying that if he had had an investment insight like Durant back then, he wouldn't be in such a predicament today. Simmons was more direct, publicly calling out to Durant: "Send me one Bitcoin, for old times' sake!"

Even the Lakers' new star, Bronny James, who also loves gaming, called out "Uncle Durant" on social media, joking: "I'm not asking for a Bitcoin, but at least teach me how to make money!"

It can be said that Durant's "legendary investment" not only brought him huge wealth but also thoroughly ignited anxiety and envy among players across the league.

Sigh... can't envy this...

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