The 3 p.m. ET deadline was a moment in time, but this 2025 version qualified as a “trade week” at least, almost as a “trade season” if we look back to Dec. 15 when Thomas Bryant moved from Miami to Indiana and Dennis Schröder went from Brooklyn to Golden State.

During the week leading up to the NBA’s trade deadline the league just dives as deeply as possible into transactional chaos. It can be a bit funny in the moment, sure. Seeing the Suns players react to the Luka trade, for example, doesn’t seem like a particularly meaningful or harmful moment.

A few weeks ago, a league executive told me to expect a relatively quiet trade deadline, one without a blockbuster deal. There were too many cap restrictions, more buyers than sellers on the market, and a general pessimism about deals getting done.