Why WNBA Star Jewell Loyd Relies on Crypto—And Why Bitcoin and Ethereum Are Her ‘Anchors’

Jewell Loyd has made history in the WNBA, setting a new single-season scoring record with 939 points for the Seattle Storm this year, surpassing the previous record set by Diana Taurasi in 2006 with 860 points scored. She has managed to achieve what no one else in the league has been able to do on the court.

Beyond her impressive performance on the court, Loyd has emerged as a prominent figure in the world of cryptocurrency investment with Coinbase. Since 2021, Coinbase has been the exclusive cryptocurrency partner of the NBA and WNBA, and Loyd has been at the forefront of this movement.

Having purchased her first Bitcoin in 2013 during her time at Notre Dame, Loyd, along with her brother, entered the crypto market with the influence of their parents, who emphasized the importance of financial literacy.

Speaking to Decrypt, Loyd discussed how she has taken a part of her salary in cryptocurrency, becoming one of the first athletes to publicly announce her crypto investments. This move has led her to educate teammates and opponents alike during games.

Image: Klutch Sports Group

In partnership with the WNBA, Coinbase provides crypto educational content and introduced a crash course on crypto for rookies at the 2022 WNBA Draft. Loyd makes use of the Coinbase app to convert a portion of her salary into cryptocurrency, with Bitcoin and Ethereum being the primary assets in her portfolio.

Following her fifth All-Star team selection last season, Loyd sealed a two-year, $463,000 contract extension with the Storm, cementing her position in the team where she has achieved two WNBA titles (2018, 2020) since being drafted in 2015.

Due to the relatively lower salaries in the WNBA compared to the NBA, many players, including Loyd, play overseas during the offseason. The decentralized nature of cryptocurrency has proven to be beneficial for her, especially while playing for teams in various countries.

Loyd emphasized how her partnership with Coinbase is not only a personal favorite but also an opportunity to empower women in the financial world, particularly during her time playing and living overseas, where transferring money is challenging.

Coinbase’s involvement in the WNBA league goes beyond partnerships, such as giving out $120,000 in Bitcoin to players and offering NFTs to fans. For Loyd, crypto has played a significant role in her philanthropic efforts, enabling her to support communities, such as Rwanda, more efficiently.

Edited by Andrew Hayward