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Donald Trump ignited immediate backlash after openly declaring that Americans’ financial struggles are not motivating his negotiations with Iran despite inflation reaching its highest level in three years. Speaking during an informal press gaggle on the White House South Lawn before boarding Marine One for a diplomatic trip to China, Trump was asked directly how much Americans’ worsening economic situation was influencing his approach toward the ongoing Iran conflict. «When you’re negotiating with Iran, Mr. President, to what extent are Americans’ financial situations motivating you to make a deal?» a reporter asked. Trump responded bluntly: «Not even a little bit.» He then doubled down by saying: «The only thing that matters when I’m talking about Iran, they can’t have a nuclear weapon.» Moments later, Trump added: «I don’t think about Americans’ financial situation. I don’t think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon. That’s all.»

The remarks came only hours after new economic data showed inflation surging to a three-year high of 3.8 percent, fueled largely by soaring energy prices and continued instability linked to the expanding military conflict involving Iran. Gas prices in several states climbed sharply throughout the week as global oil markets reacted to fears of wider disruptions in the Middle East. Economists warned the situation was placing increasing pressure on working-class Americans already struggling with housing costs, food prices and consumer debt. Trump’s comments rapidly spread across television networks and social media platforms, where critics argued the president appeared entirely detached from the economic pain facing ordinary families. The White House later attempted to frame the remarks as evidence that Trump was prioritizing national security over political optics, but the administration struggled to contain the growing backlash.

«I don’t think about Americans’ financial situation. I don’t think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon. That’s all.»

-U.S. President, Donald Trump

Top Democratic officials immediately seized on Trump’s comments as evidence of indifference toward struggling Americans. Senate Minority Leader Chuck Schumer reposted the viral clip online with the short caption: «We can tell.» Illinois Governor JB Pritzker responded sarcastically by writing: «BREAKING NEWS: Trump tells the truth.» Pennsylvania Governor Josh Shapiro pointed directly to rising gasoline costs impacting his state, posting: «Gas is over $4.60/gallon in Pennsylvania today and Trump literally doesn’t give a damn.» House Minority Leader Hakeem Jeffries also issued a formal statement attacking the administration’s foreign policy decisions. «The reckless Republican war of choice in Iran is crushing the financial situation of the American people,» Jeffries declared. Democratic strategists quickly began circulating the footage across campaign networks, believing the comments could become politically damaging heading into the 2026 midterm elections.

The fallout also extended beyond Democratic circles and exposed growing unease among some Republicans regarding the escalating Iran conflict and its domestic consequences. Following Trump’s remarks, Republican Senator Lisa Murkowski broke with GOP leadership by supporting a war powers resolution aimed at limiting further American military involvement in Iran. While Murkowski did not directly reference Trump’s statement, several analysts interpreted her vote as a signal of increasing discomfort within parts of the Republican Party over the economic and political costs associated with the administration’s aggressive foreign policy posture. Political observers also noted that Trump’s comments sharply contrasted with the “America First” rhetoric that defined much of his previous campaigns, during which he repeatedly framed himself as a defender of struggling working-class Americans against political elites and foreign entanglements.

Online reaction to Trump’s remarks rapidly intensified as the video circulated across X, TikTok, Instagram and Facebook throughout the day. Millions of users shared clips of the exchange, with critics portraying the comments as proof that the president had abandoned his populist image entirely. One viral post declared: «We went from ‘America First’ to ‘I don’t think about Americans’ while the rest of us are drowning at the pump.» Another widely shared reaction stated: «He is telling us to our faces that our economic survival means absolutely nothing to him.» Conservative influencers and White House allies attempted to defend the president by arguing that preventing Iran from acquiring nuclear weapons ultimately protects Americans in the long term. Still, the dominant online narrative remained overwhelmingly negative, with hashtags related to inflation, gas prices and Trump’s comments trending throughout the evening.

«Gas is over $4.60/gallon in Pennsylvania today and Trump literally doesn’t give a damn.»

-Pennsylvania Governor, Josh Shapiro

The controversy intensified further as a new ABC News/Washington Post/Ipsos poll released alongside the remarks showed Trump facing some of the worst approval numbers of his second presidency. According to the survey, 76 percent of Americans now disapprove of Trump’s handling of the overall cost of living, while 66 percent disapprove of how he is managing the Iran situation. Analysts described the numbers as a serious warning sign for the administration as inflation continues worsening and public frustration grows over the economic consequences of the conflict. Critics argued the polling reinforced the perception created by Trump’s own remarks that the administration is increasingly disconnected from the daily financial realities facing millions of Americans. With fuel prices continuing to climb and the Iran conflict showing little sign of easing, Democrats are now aggressively positioning Trump’s comments as a defining symbol of economic indifference from the White House.

Conan O’Brien will officially return to host the Academy Awards for a third consecutive ceremony after ABC, Disney and the Academy of Motion Picture Arts and Sciences rewarded the comedian following two highly praised performances that revitalized Hollywood’s biggest night with sharp humor and chaotic energy. The 99th Oscars, which will air on ABC and stream on Hulu on March 14, 2027, will once again feature O’Brien as master of ceremonies after his widely celebrated appearances at the 2025 and 2026 shows. Disney executives praised the late-night veteran for successfully injecting fresh momentum into the broadcast at a time when award shows continue struggling with declining viewership and changing audience habits. Craig Erwich, president of Disney Television Group, declared that «Conan has created remarkable energy around the Oscars,» while adding that «his singular comedic voice makes Hollywood’s biggest night one of the most entertaining celebrations of the year.»

O’Brien’s consecutive hosting performances firmly established him as one of the Academy’s most successful modern emcees, blending absurdist humor, rapid-fire improvisation and sharp industry satire in ways that resonated with audiences online and inside the Dolby Theatre. During the 2026 ceremony, O’Brien instantly grabbed headlines by joking that he was likely «the final human host of the Oscars» before «a Waymo in a tuxedo» eventually replaces him. Throughout the night, he repeatedly mocked the entertainment industry’s growing obsession with streaming platforms, artificial intelligence and corporate consolidation. At one point, O’Brien pointed directly toward Netflix co-CEO Ted Sarandos and joked: «Why are all these people gathered together having fun? They should be alone so I can monetize them!» The line rapidly spread across social media and became one of the ceremony’s defining viral moments.

«an alternative Oscars, hosted by Kid Rock, is taking place right now at a nearby Dave & Buster’s.»

– Host of the 97th Oscars, Conan O’Brien

O’Brien also leaned heavily into his trademark self-deprecating comedy style, targeting both himself and some of the year’s most prominent films. While discussing Wicked, he delivered one of the evening’s most widely shared jokes by describing it as the ideal movie for viewers who watched The Wizard of Oz and wondered: «where did all the minor characters go to college?» The host later turned historical drama into political satire while discussing Hamnet, joking that a scene featuring a woman giving birth alone in the woods is now commonly known as «affordable healthcare.» Even potentially tense political moments inside the room were quickly diffused by O’Brien’s surreal humor. Addressing nervous celebrities concerned about political controversy, he reassured the audience that «an alternative Oscars, hosted by Kid Rock, is taking place right now at a nearby Dave & Buster’s.» The joke immediately triggered loud laughter inside the theater and dominated entertainment headlines the following morning.

The Academy Awards have increasingly relied on experienced late-night personalities over the past several years as producers search for hosts capable of balancing celebrity humor, live television unpredictability and political commentary. Jimmy Kimmel previously hosted both the 95th Oscars in 2023 and the 96th Oscars in 2024, bringing his familiar style of casual crowd work and political jokes to the ceremony. Before the recent era dominated by late-night comedians, the 94th Oscars in 2022 experimented with a three-host format featuring Regina Hall, Amy Schumer and Wanda Sykes. O’Brien’s success at the 97th Oscars in 2025 quickly convinced ABC and Disney executives to bring him back the following year, with ratings improvements, strong online engagement and positive critical reactions solidifying his status as the Academy’s preferred modern host.

Industry analysts noted that O’Brien’s success largely comes from his ability to balance insider Hollywood satire with broader mainstream comedy that resonates beyond the entertainment industry itself. Unlike several previous hosts who became overwhelmed by the increasingly political environment surrounding award shows, O’Brien has managed to navigate controversial subjects while maintaining an intentionally ridiculous and self-aware tone. Critics particularly praised his willingness to mock both Hollywood elites and corporate entertainment culture without allowing the ceremony to become consumed by partisan conflict. Entertainment columnist Richard Lawson of Vanity Fair previously described O’Brien’s Oscars performances as «controlled chaos,» while social media users repeatedly celebrated his ability to generate viral moments without overshadowing the awards themselves. His performances also introduced a younger online audience to the type of anarchic late-night comedy that originally made him famous during his decades on NBC and TBS.

«Conan has created remarkable energy around the Oscars.»

-President of Disney Television Group, Craig Erwich

The upcoming 99th Academy Awards will also mark the end of an era for the ceremony’s traditional broadcast structure. The 2027 show is expected to be the final Oscars ceremony aired on ABC and streamed on Hulu before the Academy transitions to a new distribution model beginning in 2028 that will include YouTube as a primary broadcast partner. The move reflects broader transformations reshaping television, streaming and live-event broadcasting throughout the entertainment industry. By bringing O’Brien back for another ceremony during this transitional moment, Disney and the Academy appear determined to maintain the comedic momentum and online cultural relevance generated over the past two years. As Hollywood continues adapting to shrinking television audiences and increasingly fragmented streaming platforms, executives now view O’Brien’s unpredictable humor and viral appeal as one of the Academy Awards’ strongest remaining assets.

Marco Rubio, who is increasingly viewed as competing with Vice President JD Vance to become Donald Trump’s preferred successor for the next presidential election cycle, is facing widespread mockery online after posing in a bizarre photo op aboard Air Force One while traveling to China alongside Trump and senior administration officials. The Secretary of State appeared wearing the now-infamous gray Nike Tech Fleece outfit that became globally viral after Trump published a photograph showing captured Venezuelan leader Nicolás Maduro aboard the USS Iwo Jima in January. The image of Rubio immediately exploded across social media, with critics ridiculing the strange decision to seemingly imitate the appearance of a detained foreign leader. Several users mocked Rubio for wanting to look like a «captured cartel boss» while representing the United States during a major diplomatic trip to Beijing.

The controversy began after White House Communications Director Steven Cheung shared the image online while the presidential delegation traveled toward a high-level summit with Chinese officials. «Secretary Rubio rocking the Nike Tech ‘Venezuela’ on Air Force One!» Cheung wrote on X while posting the now-viral photo of Rubio leaning casually inside the aircraft. The White House later amplified the image further through official social media accounts, describing it as a «full circle moment.» Rubio’s outfit strongly resembled the exact gray Nike tracksuit worn by Maduro in the image Trump posted on Truth Social after the Venezuelan leader’s dramatic capture on January 3. At the time, Trump captioned the image simply: «Nicolas Maduro on board the USS Iwo Jima.» The photograph rapidly became one of the most recognizable political images of 2026 and unexpectedly transformed the Nike outfit into an international meme phenomenon.

The original image of Maduro quickly spread across the internet following the operation that removed the Venezuelan leader from power and transferred him into U.S. custody. In the viral photograph, Maduro appeared handcuffed, blindfolded and wearing the gray Nike Tech Fleece while sitting aboard the USS Iwo Jima during transport to New York. Social media users almost immediately fixated on the outfit rather than the political implications surrounding the capture itself. Searches for “Nike Tech” exploded online while memes flooded X, TikTok and Instagram. The tracksuit reportedly sold out across multiple retailers within days of Trump posting the image. Some users jokingly renamed the clothing color “Maduro gray,” while parody slogans such as «Just Coup It» circulated widely online. The image ultimately became one of the defining internet memes connected to Trump’s second presidency and the collapse of Maduro’s government.

«Imagine meeting world leaders representing the United States in a literal fleece hoodie. This is embarrassing.»

-One social media user mocking Rubio’s appearance

Rubio’s decision to wear the same outfit months later immediately triggered a flood of ridicule across social media. One user mocked the Secretary of State by posting: «Nicolás Maduro cosplay goes crazy.» Another wrote: «He has officially entered his Maduromaxxing era.» Critics also questioned whether Rubio understood how strange the optics appeared for America’s top diplomat while representing the country abroad. «He is the Secretary of State, not a high schooler going to gym class. Dress like a diplomat,» one user commented. Another added: «Imagine meeting world leaders representing the United States in a literal fleece hoodie. This is embarrassing.» Several critics also noted the awkward symbolism of Rubio wearing the outfit associated with a captured foreign leader while heading into delicate discussions with Chinese officials during a major geopolitical summit.

Other social media users focused specifically on Rubio’s long history as one of the Republican Party’s strongest critics of Nicolás Maduro and the Venezuelan government. «Rubio is literally banned and sanctioned by China, and his brilliant strategy is to show up looking like a captured cartel boss?» one user wrote as the images continued spreading online. Critics argued the photo op reflected a growing trend within Trump’s inner circle of transforming serious geopolitical events into internet meme culture and viral branding opportunities. Some users also mocked Rubio for appearing more focused on cultivating an online persona than presenting a traditionally presidential or diplomatic image as speculation intensifies regarding the future Republican presidential race. Recent polling and conservative media discussions have increasingly positioned Rubio and JD Vance as the two most likely candidates to inherit Trump’s political movement once he leaves office.

«He is the Secretary of State, not a high schooler going to gym class. Dress like a diplomat.»

-One social media user mocking Rubio’s appearance

Despite the backlash, the image also received praise from Trump supporters and several conservative influencers who interpreted Rubio’s outfit as an intentional troll directed toward Maduro and left-wing governments across Latin America. Pro-Trump commentator Eric Daugherty celebrated the image online, writing: «LMFAO! Sec. Marco Rubio was just spotted wearing the Nicolas Maduro « Nike Tech » aboard Air Force One, en route to China with President Trump. Just like Maduro wore when 47 captured him. We love Marco.» The moment further demonstrated how deeply political branding, internet culture and meme warfare have become intertwined with the Trump administration’s communication strategy during its second term. Whether intentional or not, Rubio’s viral appearance transformed what should have been a major diplomatic trip into another surreal social media spectacle dominated by jokes, memes and arguments over a gray Nike sweatsuit.

ABC and its parent company Disney are aggressively pushing back against the Trump administration after becoming the target of a federal inquiry focused on The View and several other high-profile television programs. In a sweeping legal counteroffensive filed in early May 2026, the network submitted a detailed 52-page petition accusing FCC Chairman Brendan Carr, a Trump ally and Project 2025 co-author, of weaponizing federal regulatory power to punish political criticism of the president. Represented by prominent Supreme Court litigator Paul Clement, ABC argued the administration’s attempt to revoke The View’s long-standing “bona fide news interview” exemption represents a dangerous escalation against protected speech. The filing accused the FCC of creating legal uncertainty designed to «chill critical protected speech» ahead of the 2026 midterm elections while threatening to «upend decades of settled law» surrounding broadcast journalism protections: «The Commission’s unprecedented, politically motivated inquiry into decades-old news exemptions serves no legitimate regulatory purpose; instead, it is a transparent attempt by the administration to weaponize federal authority, punish political dissent, and chill critical protected speech across the entire American broadcast industry.»

The current confrontation marks the culmination of a feud between Donald Trump and The View that stretches back nearly two decades. The conflict first exploded publicly in December 2006 during Trump’s highly publicized dispute with former co-host Rosie O’Donnell. Furious over O’Donnell’s criticism of his handling of the Miss USA pageant controversy, Trump launched a deeply personal attack during an interview with Entertainment Tonight. «She’s disgusting, I mean, both inside and out,» Trump said at the time. He then added: «She’s a slob, she talks like a truck driver… If I were running The View, I’d fire Rosie. I mean, I’d look at her right in that fat, ugly face of hers, I’d say, ‘Rosie, you’re fired.’» The feud became one of the defining celebrity media battles of the 2000s and established Trump’s long-running hostility toward the ABC daytime program and several of its hosts.

Nearly twenty years later, tensions erupted again during the final stretch of the 2024 presidential campaign following Vice President Kamala Harris’s appearance on The View. Trump unleashed a series of furious Truth Social posts attacking both Harris and the show itself after the interview aired on October 8, 2024. In one post, Trump wrote that «Kamala Harris was a ‘dummy’ on The View,» while also calling the hosts «degenerates» and «dumb women.» He further described Harris’s appearance as «her dumbest answer so far.» Later that same month, Trump escalated beyond personal insults and openly suggested government retaliation against television networks critical of Republicans. He wrote that networks broadcasting negativity toward the GOP «should have their broadcast licenses revoked,» remarks that alarmed media law experts and First Amendment advocates who warned the comments resembled direct political threats against press organizations.

«She should self-reflect on her own jealousy of President Trump’s historic popularity before her show is the next to be pulled off air.»

– White House spokesperson, Taylor Rogers

Following Trump’s return to office, critics say that rhetoric rapidly transformed into concrete regulatory action through the Federal Communications Commission. Under Brendan Carr’s leadership, the FCC launched a broad investigation examining whether several major entertainment and late-night programs violated federal “equal-time” broadcasting rules during the election cycle. On April 28, 2026, the FCC formally ordered Disney and ABC to hand over internal production materials, booking records and editorial communications related to The View, Jimmy Kimmel Live! and The Tonight Show Starring Jimmy Fallon. The inquiry focused on whether Democratic political figures allegedly received favorable or uncompensated airtime while Republican candidates were denied similar opportunities. Media lawyers immediately noted that the “equal-time” doctrine has historically contained broad exemptions protecting news interviews and political discussion programs, making the investigation highly unusual and legally controversial.

The escalating conflict intensified further after comments made by The View co-host Joy Behar enraged Trump and several administration officials during the summer of 2025. In response, White House spokesperson Taylor Rogers issued a blistering statement attacking both Behar and the program directly. «Joy Behar is an irrelevant loser suffering from a severe case of Trump Derangement Syndrome,» Rogers told Entertainment Weekly in an email statement. Rogers also claimed that the show had «hit the lowest ratings» in recent years before adding that Behar «should self-reflect on her own jealousy of President Trump’s historic popularity before her show is the next to be pulled off air.» Critics of the administration pointed to the remarks as evidence that government officials were increasingly blurring the line between political messaging and regulatory intimidation directed at media organizations critical of Trump.

«The Commission’s unprecedented, politically motivated inquiry into decades-old news exemptions serves no legitimate regulatory purpose; instead, it is a transparent attempt by the administration to weaponize federal authority, punish political dissent, and chill critical protected speech across the entire American broadcast industry.»

-52-page legal petition filed by ABC and Disney’s lawyers against the FCC

ABC’s legal filing now frames the FCC investigation as a direct constitutional battle over executive power, political retaliation and freedom of the press. In the petition, the company argued the federal government is using «the coercive power of the state» to selectively target viewpoints viewed as hostile to the administration. The filing also warned that broadcasters across the country could begin self-censoring political coverage if the FCC succeeds in redefining long-established legal protections surrounding political interviews and commentary programs. Legal analysts noted the case could become one of the most significant First Amendment disputes involving broadcast media in decades, particularly because Brendan Carr has openly supported portions of Project 2025 that call for stronger executive authority over independent regulatory agencies. As the legal battle intensifies, the decades-long war between Trump and The View has now evolved far beyond television drama into a defining national confrontation over political speech, media independence and the limits of presidential power.

During a telephone interview with Fox News, Donald Trump reportedly suggested he is now «seriously considering» making Venezuela the 51st state of the United States, a remark that immediately triggered backlash online and a firm rejection from Venezuela’s acting president Delcy Rodríguez. Fox News host John Roberts revealed the conversation in a post published on X shortly after speaking with Trump directly. «Just got off the phone with @realDonaldTrump,» Roberts wrote, before adding: «… he told me he is seriously considering a move to make Venezuela the 51st state…» The comments rapidly spread across social media and marked the latest example of Trump publicly floating territorial expansion ideas during his second presidency, following previous remarks involving Canada, Greenland and the Panama Canal.

Reaction online was immediate and deeply polarized as critics mocked the idea and questioned Trump’s seriousness. Under Roberts’ X post, many users condemned the remarks as reckless and bizarre. One user wrote that Trump should stop making statements like that because «It makes him appear insane and unserious.» Another commenter responded bluntly: «Trump says a lot of stupid sh*t.» A different user described the proposal as «A mad man fantasy goal.» Others pointed to what they viewed as contradictions between Trump’s annexation rhetoric and his aggressive immigration messaging during the 2024 campaign. «All the rapists, murderers, and insane asylum people can be welcomed back,» one user sarcastically wrote. Another commenter dismissed the remarks entirely as political theater, posting: «Anything to distract from this Iran Sh*tshow.» The discussion rapidly became one of the most debated political topics on X following Roberts’ statement.

«We will continue to defend our integrity, our sovereignty, our independence, our history.»

-Venezuela’s acting president, Delcy Rodríguez

Trump’s comments came more than five months after the United States captured now-former Venezuelan president Nicolás Maduro during a controversial military operation that dramatically transformed relations between Washington and Caracas. Maduro and his wife Cilia Flores were transferred to the United States earlier this year to face federal charges tied to narco-terrorism and weapons offenses. Following the operation, Delcy Rodríguez assumed power as Venezuela’s acting president while the United States gradually restored diplomatic and economic ties with Caracas. Since taking office, Rodríguez has reopened parts of Venezuela’s oil sector to foreign investment while the Trump administration eased several sanctions tied to petroleum exports. Trump has repeatedly pointed to Venezuela’s enormous oil reserves while discussing the country publicly, and according to reports he recently told Fox News that «Venezuela loves Trump.»

The remarks also fit into a broader pattern of expansionist rhetoric that has defined several moments of Trump’s second term. Before returning to office in January 2025, Trump repeatedly joked that Canada should become the 51st state and later reignited tensions with statements involving Greenland and renewed American control over the Panama Canal. Earlier this year, Trump again floated the idea of Venezuelan statehood after Venezuela defeated the United States during the World Baseball Classic. On Truth Social, Trump wrote: «STATEHOOD, #51, ANYONE?» before later posting simply «STATEHOOD!!!» after Venezuela won the championship game. The repeated comments have fueled growing international concern surrounding Trump’s increasingly aggressive rhetoric regarding territorial expansion and American geopolitical influence throughout the Western Hemisphere.

It is now Venezuela’s acting president Delcy Rodríguez who has become the latest foreign leader forced to publicly reject Trump’s statehood remarks. Speaking to journalists at the International Court of Justice in The Hague, Rodríguez firmly defended Venezuela’s sovereignty and independence after being asked about Trump’s comments. «We will continue to defend our integrity, our sovereignty, our independence, our history,» Rodríguez declared. She then added that Venezuela is «not a colony, but a free country.» Rodríguez also emphasized Venezuelans’ attachment to the country’s independence movement and national identity, saying the country’s history was built by «men and women who gave their lives» so Venezuela would remain sovereign. Her comments came while Venezuela continued defending its territorial claims over the oil-rich Essequibo region currently administered by neighboring Guyana.

«Just got off the phone with @realDonaldTrump,» Roberts wrote, before adding: «… he told me he is seriously considering a move to make Venezuela the 51st state…»

– Fox News host, John Roberts

While Trump’s latest remarks generated headlines worldwide, legal experts and political analysts quickly noted that any actual attempt to transform Venezuela into a U.S. state would face enormous constitutional, political and international barriers. Such a move would require approval from Congress as well as the consent of Venezuela itself, something Rodríguez has made clear will never happen under her government. Despite the practical impossibility of the proposal, Trump’s repeated references to foreign territories becoming part of the United States continue attracting intense scrutiny as his administration expands its influence across Latin America following Maduro’s removal from power. The remarks also arrive at a delicate moment for U.S.-Venezuela relations, as both countries cautiously rebuild diplomatic communication after years of hostility, sanctions and military confrontation.

Ecommerce giant eBay announced that it has rejected a massive $55.5 billion unsolicited takeover offer from GameStop, dismissing the proposal as «neither credible nor attractive» despite the substantial premium offered to shareholders. The proposal, revealed through a letter sent by GameStop chairman and chief executive officer Ryan Cohen to eBay chairman Paul Pressler, offered to acquire all outstanding shares of eBay for $125 per share. The proposed transaction would have been financed through a combination of cash and GameStop stock. «GameStop Corp. (“GameStop”) is proposing to acquire all common stock of eBay Inc. (“eBay”) at $125.00 per share,» Cohen wrote in the letter. The proposal immediately triggered intense reactions across Wall Street because of the scale of the offer and the unlikely pairing between the two companies.

In the letter, Cohen argued the offer represented a substantial premium for eBay shareholders compared to the company’s recent trading performance. «Our offer is $125.00 per share, comprising 50% cash and 50% GameStop common stock, with full shareholder election rights as to consideration type and pro-rata allocation,» he explained. Cohen further detailed the valuation behind the proposal, writing: «That represents a 46% premium to eBay’s unaffected closing price on February 4, 2026, the day GameStop started accumulating its position in eBay, a 27% premium to the 30-day VWAP, and a 36% premium to the 90-day VWAP. Aggregate undiluted equity value is approximately $55.5 billion.» The proposal would have marked one of the largest acquisitions ever attempted by a company that only a few years ago was primarily associated with physical video game retail operations.

«Our Board unanimously supports this proposal.»

-GameStop chairman and chief executive officer, Ryan Cohen

GameStop also attempted to reassure eBay’s board regarding its ability to finance such a large transaction. Cohen explained that GameStop’s growing balance sheet and outside financing commitments could support the acquisition despite concerns surrounding the company’s historical volatility. «GameStop had ~$9.4 billion in cash and liquid investments as of January 31, 2026,» Cohen wrote. «The cash consideration will be funded from cash and liquid investments on GameStop’s balance sheet and third-party equity and debt financing, which will be fully committed at execution of definitive documentation. A highly-confident letter from TD Securities for up to $20 billion is attached.» Cohen also emphasized that GameStop’s leadership fully supported the transaction, stating plainly: «Our Board unanimously supports this proposal.» The letter framed the acquisition as part of a broader long-term transformation strategy for GameStop.

During an interview with The Wall Street Journal, Cohen described the proposed acquisition as an attempt to fundamentally reshape GameStop into a dominant ecommerce platform capable of competing directly with Amazon. «It could be a legit competitor to Amazon,» Cohen said about eBay during the interview. The strategy reflects Cohen’s long-running focus on ecommerce, which previously helped transform online pet retailer Chewy into a multibillion-dollar company before he joined GameStop. Analysts noted that combining GameStop’s massive retail investor following and cash reserves with eBay’s marketplace infrastructure could theoretically create a major online commerce player spanning collectibles, electronics, gaming products and second-hand consumer goods. However, many investors also questioned whether GameStop possessed the operational expertise necessary to successfully manage a global ecommerce platform as large and complex as eBay.

eBay’s board ultimately rejected the offer after reviewing the proposal with financial and legal advisers. In its official response, the company cited multiple concerns regarding the feasibility and credibility of the transaction. Among the reasons outlined by eBay were «uncertainty around GameStop’s financing, potential leverage and operational risks, leadership structure concerns, valuation implications, and GameStop’s governance and executive incentives.» The board concluded the proposal was «neither credible nor attractive» for shareholders despite the large premium attached to the offer price. Analysts noted that eBay’s management may also have been concerned about exposing the company to GameStop’s notoriously volatile stock price, which has experienced dramatic swings in recent years driven largely by meme-stock trading activity and speculative retail investor momentum.

«Our offer is $125.00 per share, comprising 50% cash and 50% GameStop common stock, with full shareholder election rights as to consideration type and pro-rata allocation.»

-GameStop chairman and chief executive officer, Ryan Cohen

The failed takeover attempt nevertheless highlights how dramatically GameStop has evolved since the meme-stock frenzy that placed the company at the center of financial markets in 2021. Under Cohen’s leadership, the company has aggressively reduced debt, accumulated billions in cash and shifted away from relying solely on physical retail sales. At the same time, eBay has continued navigating increasing competition from Amazon, Walmart Marketplace, Temu and other ecommerce platforms fighting for online consumer traffic. While the proposed merger now appears unlikely to move forward following eBay’s rejection, the episode has already intensified debate across the technology and financial sectors regarding consolidation, ecommerce competition and the future ambitions of GameStop under Cohen’s leadership. Investors are now watching closely to see whether Cohen pursues another acquisition target or attempts to pressure eBay into reconsidering the proposal publicly.

New information is surfacing over the months-long mystery surrounding the sinking of a Russian cargo ship off the coast of Spain, with investigators now suspecting the vessel may have been secretly transporting submarine nuclear reactor technology to North Korea. The Ursa Major, a Russian cargo ship linked to the state-owned company Oboronlogistics, sank under unexplained circumstances roughly 60 miles off Spain’s southeastern coast on December 23, 2024, after a series of suspicious explosions ripped through the vessel. According to a CNN investigation, the ship was allegedly carrying two nuclear reactors believed destined for North Korea’s submarine program. CNN further reported that investigators increasingly suspect the vessel may have been deliberately targeted before the sensitive technology could reach Pyongyang.

The mysterious sinking remained largely quiet for months before new details from Spanish investigators and intelligence sources began emerging publicly. The Ursa Major had officially departed from St. Petersburg and was supposedly sailing toward Vladivostok in Russia’s Far East. However, investigators quickly questioned why a ship carrying what was described as ordinary industrial cargo would take such a long maritime route between two Russian ports despite the country’s extensive rail infrastructure. Spanish authorities later discovered undeclared heavy cargo containers aboard the vessel. According to CNN and Spanish newspaper La Verdad, the captain eventually admitted under questioning that the cargo included «nuclear reactor components similar to those used by submarines,» although he reportedly insisted no nuclear fuel was being transported at the time of the sinking.

The timing of the suspected shipment also raised major geopolitical concerns because it came shortly after North Korea deepened its military support for Russia’s war in Ukraine. North Korean troops had reportedly been deployed to assist Russian operations, while Western intelligence agencies increasingly warned that Moscow could be repaying Pyongyang with advanced military and nuclear technology. Investigators believe the final destination of the shipment may not actually have been Vladivostok but rather the North Korean port city of Rason. According to CNN, a source familiar with the Spanish investigation said the Russian captain believed the vessel would eventually be diverted there to unload the reactor components. The cranes listed on the ship’s manifest were also suspected to have been intended to help offload the unusually heavy cargo upon arrival in North Korea.

From the outside

Questions surrounding the sinking intensified further after investigators documented the unusual sequence of events during the ship’s final hours. Spanish maritime rescue teams responded after the Ursa Major issued a distress call reporting explosions onboard. Crew members later told rescuers that three explosions had struck the vessel before it began listing heavily. Oboronlogistics later described the incident as «a targeted terrorist attack» and claimed the blasts caused «a 50 by 50 centimeter hole» in the hull. According to the company, «The deck of the ship was covered with shrapnel.» Spanish investigators also reportedly observed that the damaged metal around the breach appeared bent inward, fueling speculation that the ship may have been struck from the outside rather than damaged by an internal accident or fire.

CNN’s investigation further reported that Russian military activity around the wreck continued long after the ship disappeared beneath the Mediterranean Sea. According to information cited by the network, Russian military vessels returned to the site for nearly five days after the sinking. During that period, four additional explosions were reportedly detected around the wreckage area, leading investigators to suspect Russian forces may have been attempting to destroy sensitive remains resting on the seabed. The Ursa Major now lies approximately 2,500 meters below the surface. Reports also revealed that the Russian intelligence vessel Yantar later arrived at the wreck site equipped with advanced underwater surveillance and recovery systems. Spanish investigators reportedly suspected the operation aimed to inspect or eliminate evidence connected to the alleged nuclear cargo.

No public information

The incident has continued drawing international military attention throughout 2025 and 2026. According to reports, the United States deployed specialized “nuke sniffer” aircraft over the wreck zone on August 28, 2025 and again on February 6, 2026. The aircraft are equipped with technology capable of detecting radioactive material and nuclear traces from the atmosphere, although no public information has been released regarding whether anything unusual was detected over the Ursa Major wreckage. CNN reported investigators are also examining whether the ship may have been struck by a supercavitating torpedo, an advanced high-speed underwater weapon believed to be possessed only by a limited number of countries including the United States, Russia and several NATO allies. While the exact cause of the sinking officially remains unresolved, the growing body of evidence has transformed the Ursa Major disaster into one of the most sensitive and mysterious maritime incidents linked to Russia, North Korea and nuclear proliferation in recent years.