- Durant recovers long-locked Coinbase account.
- Bitcoin purchased in 2016 surges in value.
- Event highlights Coinbase’s support challenges.
NBA star Kevin Durant regained access to his Coinbase account, holding Bitcoin bought in 2016, confirmed by Coinbase CEO Brian Armstrong on X (formerly Twitter) during CNBC’s Game Plan conference.
The recovery highlights early Bitcoin adoption benefits and intensifies discussions on disparities in Coinbase’s customer support between VIP and retail users.
Kevin Durant, NBA star, has regained access to his Coinbase account after nearly a decade. He had purchased Bitcoin in 2016; its value has skyrocketed due to a significant price increase over the years.
Coinbase CEO Brian Armstrong confirmed the news, stating, “Account recovery complete!” Durant’s agent, Rich Kleiman, detailed the case at the CNBC Game Plan conference, where he highlighted the unexpected financial benefit.
The account recovery had no immediate impact on Bitcoin (BTC)‘s overall market liquidity. Nonetheless, it reignited conversations surrounding Coinbase’s customer service, focusing on their support protocols for both VIPs and typical users.
Durant’s Bitcoin, initially estimated at around $10,000, is now valued at approximately $1.8 million. The incident also drew attention to the disparities in service responsiveness between high-profile clients and average users.
Debate on Service Prioritization
The situation triggered debates about the prioritization of celebrities by major exchanges like Coinbase, leading to criticisms. This has prompted Coinbase to announce enhancements in customer support, including faster resolution times and improved recovery tools.
Experts suggest that the resurgence of such high-profile account recoveries can spark regulatory reviews. Potential regulatory changes might require exchanges to strengthen oversight and improve protocols for customer support, especially for non-celebrity clients.
The lockout ‘has only benefited us,’ acknowledging the price rise during the account’s inaccessibility.
