{"id":229186,"date":"2021-04-15T18:29:09","date_gmt":"2021-04-15T15:29:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kevin-durant-scores-huge-return-on-coinbase-investment\/"},"modified":"2021-04-15T18:29:09","modified_gmt":"2021-04-15T15:29:09","slug":"kevin-durant-scores-huge-return-on-coinbase-investment","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kevin-durant-scores-huge-return-on-coinbase-investment\/","title":{"rendered":"#Kevin Durant scores huge return on Coinbase investment"},"content":{"rendered":"

“#Kevin Durant scores huge return on Coinbase investment<\/strong>”<\/p>\n

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Kevin Durant sat out Wednesday night \u2014\u00a0as his bank account soared.<\/p>\n

On Wednesday, the Nets star saw his Coinbase investment pay off when the digital currency exchange platform hit the public markets with a whopping $86 billion valuation. It marks Durant\u2019s largest investment victory to date with his Thirty Five Ventures company. <\/p>\n

The cryptocurrency stock closed at $328.28 in its first day of trading, following a mid-day peak at $429. <\/p>\n

Durant initially invested in Coinbase in 2017, making his investment worth 54-fold after Wednesday\u2019s news<\/a>, according to Sportico.<\/a> Since 2017, he has invested in around 50 startups. <\/p>\n

In a 2018 interview with ESPN, Durant revealed<\/a> that most of his investments have ranged anywhere from $250,000 to $1 million. Therefore, a $250,000 investment in Coinbase in 2017 would be worth $13.5 million at Wednesday\u2019s closing price, per Sportico.<\/p>\n

Coinbase, since its 2012 inception, has soared in the cryptocurrency market with its advertised easy-to-use model. In late 2020, revenue more than doubled to $1.1 billion, according to the website. Though, that was pocket change compared to the first quarter of 2021, in which Coinbase announced preliminary revenue of $1.8 billion, up nine-fold.<\/p>\n

\"Kevin
Kevin Durant was an early investor in Coinbase<\/figcaption>
NBAE via Getty Images<\/span><\/figcaption><\/figure>\n

Durant\u2019s massive payday adds to the $39 million salary he will collect this season with the Brooklyn Nets \u2014 in addition to an estimated $35 million from his media and film ventures and sponsorships with brands including Nike, Degree, YouTube<\/a> and Master & Dynamic.<\/p>\n

The two-time NBA champion founded Thirty Five Ventures in 2017, alongside his longtime business manager Rich Kleiman. The company incorporates the duo\u2019s existing business entities, including Durant\u2019s personal brand\/marketing portfolio, investments and on-court contracts, as well as the Kevin Durant Charity Foundation and the multi-channel sports business network, The Boardroom.<\/p>\n