Many people came up big after the digital currency exchange, Coinbase, went public on Wednesday (April 15). According to a Yahoo Sports report, Brooklyn Nets star player Kevin Durant is scoring big through his investment company, Thirty Five Ventures, which invested a good amount of money in Coinbase in 2017.
Coinbase’s stock closed at $328 on its first day of trading, resulting in an insane $86 billion valuation. Durant’s projected contribution is estimated to be around $250,000 to $1 million. Although there’s no word on how much he’s bringing in, Yahoo reported if the all-star forward put in $250,000 in 2017, his investment would be worth $13.5 million. 50 Cent heard the news and took time out to celebrate Durant for the lucrative payout.
“86 what! BILLION, KD up like a mother fucker,” 50 wrote in the caption of his Instagram post showing the news. “I love to see my people win!”
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50’s former rival Nas is another person who won big after Coinbase hit the public market. Nas’ payday comes from his investment firm, Queensbridge Venture Partners, which got into Coinbase’s Series B round in 2013 after raising $25 million. The cryptocurrency exchange was valued at $143 million at that time.
Queensbridge Venture Partners co-founder Anthony Saleh said the investment firm makes early-stage investments between $100,000 and $500,000.
According to an analysis by CoinDesk, at the time the firm got its stake in Coinbase, the share price was $1.00676, and Queensbridge owns around 99,329 or 496,642 on the low and high end, respectively. That means Nas and his firm would clock in somewhere between $34.76 million and $173.8 million at $350 a share.