The NBA trade deadline sparked major speculation, led by the Bucks potentially trading Giannis Antetokounmpo, with the Hawks making the first major deal.

The NBA trade deadline on February 5, 2026, has sparked major speculation, led by the Milwaukee Bucks potentially trading two-time MVP Giannis Antetokounmpo amid concerns over his health and team dynamics. While no confirmed deals have been made, the Atlanta Hawks sent Trae Young to the Washington Wizards for C.J. McCollum and Corey Kispert, marking the first major move. Other teams, including the Cavaliers, Kings, and Bulls, completed a three-team swap, while the Bucks, Warriors, and Nets are linked in potential blockbuster deals involving Antetokounmpo and other stars. The outcome hinges on the Bucks’ decision, with teams awaiting signals before pursuing further moves.