Through their investment company Thirty Five Ventures, Durant and business partner Rich Kleiman invested in Coinbase back in 2017. At the time, Coinbase was securing capital for their Series D funding. That funding rounding raised over $100 million at a valuation of $1.6 billion, according to business reporter Joe Pompliano.

The company, whose users primarily deal in bitcoin BTCUSD, +0.73% and ethereum ETHUSD, +1.51%, now has a valuation that is 53 times as high as when Durant invested, signaling a massive jump in the value of his investment.

It’s unclear how much Durant invested in Coinbase back in 2017, but he has made million-dollar investments in the past, including a $1 million investment in Postmates before its sale to Uber UBER, -0.64% in 2020. A $1 million investment in Coinbase in 2017 would be worth over $53 million today.

Durant and Thirty Five Ventures have also invested in several startups including financial-services company Acorns, esports organization Andbox and alternative-asset-management company Alt.

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Other notable early-stage investors in Coinbase include billionaire PayPal PYPL, -1.51% and LinkedIn co-founder Reid Hoffman, libertarian hedge-fund manager turned venture capitalist Dmitry Balyasny, Google GOOG, +0.05% GOOGL, -0.11% Ventures founder Bill Maris, and political strategist and investor Bradley Tusk.

Shares of the cryptocurrency exchange Coinbase were up 1.4% on Thursday, and a few Wall Street analysts still say Coinbase is a buy.

Major U.S. stock benchmarks posted gains on Thursday, Coinbase’s first full day of trading after its midday debut as a direct Nasdaq listing on Wednesday. The Dow Jones Industrial Average DJIA, +0.48%  rallied 305 points, or 0.9%, as the S&P 500 SPX, +0.36% is gained 45 points higher, or 1.1%, and the Nasdaq Composite Index COMP, +0.10%  was up nearly 181 points, or 1.3%.