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Crypto Market Recap: Strategy Buys US$180 Million Worth of Bitcoin, GENIUS Act Stalls

Investing 7 Mins Read

Here’s a quick recap of the crypto landscape for Monday (May 5) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$94,808.21 as markets wrapped for the day, down 1.2 percent in 24 hours. The day’s range has seen a low of US$93,704.12 and a high of US$94,838.85.

Bitcoin performance, May 5, 2025.

Chart via TradingView.

Bitcoin’s price has been stuck in a range of US$93,000 to US$97,900 since late April, failing to break above the US$98,000 resistance level. Profit-taking volume above statistical norms suggests strong selling pressure despite a large portion of Bitcoin’s supply being in profit, creating potential for volatile price swings.

Analysts are waiting to see if Bitcoin can break above US$95,000 and then US$98,000 to aim for higher prices, while failure could lead to a drop toward US$92,000 or even lower targets between US$85,000 and US$75,000. Positive exchange-traded fund inflows and the upcoming US Federal Reserve meeting could provide bullish catalysts.

Ethereum (ETH) ended the day at US$1,824.90, a 0.7 percent decline over the past 24 hours. The cryptocurrency reached an intraday low of US$1,798.96 and saw a daily high of US$1,825.38.

Altcoin price update

  • Solana (SOL) reached its peak at the end of the day, hitting a value of US$146.95, up 0.2 percent over 24 hours. SOL experienced a low of US$143.72.
  • XRP is trading at US$2.16, reflecting a 1.5 percent decrease over 24 hours and its highest point of the day. The cryptocurrency recorded an intraday low of US$2.11.
  • Sui (SUI) is priced at US$3.47, showing an increaseof 5.4 percent over the past 24 hours. It achieved a daily low of US$3.40 and a high of US$3.48.
  • Cardano (ADA) is trading at US$0.6716, down 3.3 percent over the past 24 hours. Its lowest price of the day was US$0.6566, and it reached a high of US$0.6717.

Today’s crypto news to know

Saylor’s Strategy buys US$180 million worth of Bitcoin

Michael Saylor’s Strategy (NASDAQ:MSTR) has acquired another 1,895 BTC at an average price of US$95,167, bringing its total Bitcoin holdings to a staggering 555,450 BTC worth over US$38 billion.

The latest US$180.3 million purchase, funded through proceeds from 2024 common and STRK at-the-market offerings, signals the firm’s unwavering commitment to a Bitcoin-centric treasury strategy.

As of Sunday (May 4), Strategy’s average purchase price across all of its holdings stood at US$68,550 per coin, showing the company’s profitable long-term conviction. The market is watching closely as Strategy continues to be one of the largest institutional holders pushing Bitcoin as a macro asset.

Australia’s path forward on crypto regulation

The Australian Labor Party secured a landslide victory in Saturday’s (May 3) election, garnering 54.9 percent of the two-party-preferred vote compared to 45.1 percent for the coalition of the Liberal and National parties.

While both major groups committed to cryptocurrency reform during their campaigns, the opposition specifically promised to release draft legislation within 100 days of the election.

The burgeoning Australian cryptocurrency industry has been actively advocating for the government to prioritize the development and implementation of clear and supportive regulations. In a Monday statement, the government said a draft of digital asset legislation is slated to be released next month.

Bipartisan concerns stall GENIUS Act

A group of bipartisan lawmakers set back progress on the GENIUS Act on Saturday, issuing a joint statement regarding an updated version of the text released last week. This story was first reported by Politico.

These lawmakers, who voted in March to advance the bill, have indicated they would not support the legislation if it proceeds through Congress in its current form, highlighting the contentious nature of the proposed legislation and the need for potential amendments to garner broader support in the Senate.

The group is calling for “stronger provisions on anti-money laundering, foreign issuers, national security, preserving the safety and soundness of our financial system and accountability for those who don’t meet the act’s requirements.’

“We must advance legislation that enshrines American leadership in the digital asset space and protects the US dollar for centuries to come. That time is now,’ Senator Bill Haggerty, one of the bill’s authors, posted on X.

“We have a choice here. Move forward and make any remaining changes needed in a bipartisan way, or show that digital asset and crypto legislation remains a solely Republican issue.”

The Senate is expected to begin considering the stablecoin bill in the coming days, with the first procedural vote anticipated as soon as next week. The bill needs support from at least seven Democrats to pass.

Arizona governor vetoes Bitcoin Reserve bill, labels crypto ‘untested investment’

In a decisive move against digital asset adoption at the state level, Arizona Governor Katie Hobbs vetoed a controversial bill that would have allowed the state to invest in Bitcoin using seized funds.

Senate Bill 1025 narrowly passed state legislature and aimed to establish a crypto reserve managed by the state, a first-of-its-kind initiative in the US. However, Hobbs dismissed the proposal, saying Arizona’s retirement and treasury systems should avoid “untested investments like virtual currency,” and emphasizing fiscal conservatism and a cautious approach to emerging financial instruments, even as crypto assets gain traction globally.

The veto effectively halts what could have been a landmark experiment in state-level Bitcoin adoption.

Maldives courts crypto billions in bid to become a blockchain finance hub

The Maldives, traditionally known for luxury tourism, is pivoting toward digital finance with a massive US$8.8 billion crypto investment deal led by MBS Global Investments, the family office of Sheikh Nayef bin Eid Al Thani.

The deal, which dwarfs the island nation’s US$7 billion GDP, involves building a massive blockchain-focused financial hub spanning 830,000 square meters and employing up to 16,000 people.

Maldives Finance Minister Moosa Zameer called the initiative crucial for economic diversification and a potential solution to mounting foreign debt obligations due over the next two years. Early financing commitments have already surpassed US$4 billion, with the remainder to be raised via equity and debt.

The proposed Maldives International Financial Center would transform the country into a key player in the global digital asset space. If realized, it could mark the most aggressive national pivot to crypto infrastructure in the Global South.

Binance to roll out crypto payments in Kyrgyzstan

Binance has signed a landmark partnership with Kyrgyzstan’s National Agency for Investments, aiming to introduce crypto payments and blockchain education as part of a broader national tech initiative. Through a memorandum of understanding, Binance Pay will soon enable crypto transactions for local residents and tourists, while Binance Academy will collaborate with Kyrgyz financial regulators and institutions to build out educational infrastructure.

The agreement was announced during Kyrgyzstan’s first Council for the Development of Digital Assets, with President Sadyr Japarov in attendance, highlighting high-level state support for crypto integration.

Binance’s regional head, Kyrylo Khomiakov, stressed the importance of the partnership in shaping regulatory clarity and fostering innovation in the country. Kyrgyzstan also committed to launching a central bank digital currency, the “digital som,” after a law granting it legal tender status was signed on April 18.

Tether teases launch of new AI platform

After announcing it was developing a website for an artificial intelligence (AI) tool in December 2024, Tether is teasing the upcoming launch of Tether AI, a new platform designed to offer “personal infinite intelligence.’

The platform, originally slated to launch by the end of Q1 2025, will be able to directly interact with and facilitate payments made using USDt and Bitcoin through a peer-to-peer network.

It will not use API keys or depend on a single point of control. Instead, Tether AI will feature a fully open-source AI runtime operating on an intentionally resilient and censorship-resistant peer-to-peer network deeply integrated with Tether’s open-source Wallet Development Kit (WDK), which was released in November 2024. By leveraging the WDK, Tether aims to facilitate self-custodial (or non-custodial) management of USDt and Bitcoin.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Investing

Riverside Resources and Questcorp Mining Execute Definitive Option Agreement for La Union Project, Sonora, Mexico

Investing 7 Mins Read

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (‘Riverside’ or the ‘Company’), is pleased to announce that further to its press release dated September 6, 2024, Riverside’s wholly-owned subsidiary, RRM Exploracion, S.A.P.I. DE C.V. (the ‘Vendor’) has entered into a definitive option agreement (the ‘Option Agreement’) with Questcorp Mining Inc. (‘Questcorp’) dated May 5, 2025, for the 2,520.2 hectare La Union carbonate replacement gold- polymetallic project (the ‘Project’ or ‘La Union’) located in Sonora, Mexico (the ‘Transaction’).

‘We are thrilled to finalize this agreement for the La Union Project, which is a strong asset in Riverside’s portfolio. Securing up to C$5,500,000 in exploration funding from Questcorp is an excellent step forward in advancing this larger Carbonate Replacement Deposit (‘CRD‘) project,’ said John-Mark Staude, CEO of Riverside Resources. ‘Riverside is pleased to have the updated NI 43-101 Technical Report completed and we see an active exploration program launching in the coming weeks with Riverside as the Operator of the exploration program. Riverside is expected to become a shareholder of Questcorp with an initial 9.9% equity interest, subject to final approval by the Canadian Securities Exchange or confirmation that such approval is not required. The first-year work program of C$1,000,000 in exploration expenditures will launch the first round of exploration at the project.’

The La Union Project

The Project is summarized on the Riverside website and is a project that Riverside acquired and further consolidated additional inlier mineral claims. The Project initially identified from Riverside’s work in the western Sonora gold belt through work with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochshild Mining Plc, among others as partners and funding relationships for gold exploration. Initial work by members of the Riverside team, drawing on more than two decades of geological compilation and analysis, identified this region as highly prospective. At the Project, historical mining by the Penoles Mining Company focused on chimney and manto replacement bodies within the upper oxide zones. As a result, the underlying sulfide zones present immediate drill targets for further exploration.

Riverside has spent the past five years consolidating this highly prospective land package, which totals over 22 square kilometers. The Project features favorable limestone host rocks, an extensive alteration footprint, and multiple small-scale historical workings, providing more than eight drill-ready target areas. Key immediate targets include the central Union Mine and the nearby Famosa Mine. With drive-up access, private ranch surface rights, and strong geologic similarities to other major CRDs in Arizona and eastern Mexico, La Union is well positioned for near-term exploration success targeting both oxide and deeper sulfide mineralization.

The Option Agreement

In accordance with the terms of the Transaction, Questcorp can acquire a one-hundred percent (100%) interest in the Project in consideration for completion of a series of cash payments totaling $100,000 CAD, making staged issuances of common shares of Questcorp totaling 19.9%, and incurring $5,500,000 CAD of exploration expenditures on the Project as outlined immediately below:

Deadline Cash Payment Share Issuance Exploration Expenditures
Within two (2) business days of the date of the Option Agreement $25,000 N/A N/A
On the Effective Date(1) N/A 9.9%(2) N/A
On or before the first anniversary of the Effective Date N/A 14.9%(2)(3) $1,000,000
On or before the second anniversary of the Effective Date $25,000 19.9%(2)(3) $1,250,000
On or before the third anniversary of the Effective Date $25,000 19.9%(2)(3) $1,500,000
On or before the fourth anniversary of the Effective Date $25,000 19.9%(2)(3) $1,750,000
Total $100,000 19.9%(2)(3) $5,500,000
Notes:

  1. ‘Effective Date’ means the date on which Questcorp delivers to the Vendor a copy of the written approval of the Canadian Securities Exchange in respect of the transactions contemplated by the Option Agreement.
  2. Issuable within the fifth business day after the applicable date.
  3. Expressed as a cumulative total percentage of the undiluted issued and outstanding common shares of Questcorp as of the applicable payment date, and assuming Riverside has not previously disposed of any common shares.

 

During the term of the Option Agreement, Riverside, through the Vendor, will remain the program operator for the Project using its local team based in Hermosillo, Sonora. Following exercise of the option under the Option Agreement, Questcorp will grant Riverside a two-and-one half percent (2.5%) net smelter return royalty on commercial production from the Project.

Figure 1. Geologic map with the tenure of the Union internal concession shown in pink. Manto and chimney type CRD targets are shown as red polygons. Riverside now controls all mineral tenures on this map.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/250896_df59d6431499eba6_002full.jpg

Figure 2. Cross section looking west with proposed drill sites and drillhole traces. Assays from Riverside’s sampling of rock dump materials from the two mine areas are labeled in black. Red areas are interpreted as manto and chimney target bodies that are now well defined and drill ready. Assays shown on figures 1 and 2 have been previously released and disclosed as summarized below the geochemical QA/QC. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/250896_df59d6431499eba6_003full.jpg

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Project was reviewed and approved by Freeman Smith, P.Geo, VP Exploration, a non-independent qualified person to Riverside Resources Inc., who is responsible for ensuring that the information provided in this news release is accurate and who acts as a ‘qualified person’ under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Rock samples from previous exploration programs discussed above at the Project were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis using 4-acid digestion methods. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standards were randomly inserted into the sample stream prior to being sent to the laboratory.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF Riverside Resources Inc.

‘John-Mark Staude’

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc. 
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com		 Eric Negraeff
Corporate Communications
Riverside Resources Inc.
Eric@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

 

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., ‘expect’,’ estimates’, ‘intends’, ‘anticipates’, ‘believes’, ‘plans’). Such information involves known and unknown risks — including the risk that the Transaction will not be completed as contemplates, or at all, availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250896

News Provided by Newsfile via QuoteMedia

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Nuggets win Game 1 vs. Thunder on Gordon 3-pointer

Sport 3 Mins Read

Aaron Gordon hit a 3-pointer in the closing seconds to score 22 points and lift the Denver Nuggets to a 121-119 road victory over the Oklahoma City Thunder in Game 1 of their second-round Western Conference playoff series.

‘I never felt like anybody wavered,’ Nuggets interim coach David Adelman said. ‘That doesn’t mean you’re going to win the game. … In the NBA, playoffs, these games are so long. You’ve got to give yourself a chance.’

With 9.5 seconds remaining and the Thunder up by one, the Nuggets’ Russell Westbrook fouled Chet Holmgren.

Holmgren missed both free throws, giving Denver an opening to finish off the comeback.

Christian Braun grabbed the rebound, fed it to Westbrook, who barreled down the floor before finding Gordon for the game-winning three.

‘(Gordon) is a Denver Nugget, man,’ Adelman said. ‘He is the soul of our team.’

The Nuggets hadn’t led since the first quarter, trailing by as many as 13 in the fourth quarter.

But the Nuggets ended the game with a 19-6 run to knock off the top seed in the Western Conference.

‘I didn’t think our execution was as clean as it can be,’ Thunder coach Mark Daigneault said. ‘But we’ll learn from it. It’s a series.’

Nikola Jokic scored 18 of his 42 points in the fourth quarter, hitting a pair of 3-pointers and eight free throws.

Shai Gilgeous-Alexander scored 33 points to lead the Thunder, who had not played in nine days.

Oklahoma City didn’t make it easy on Jokic, using several different players to defend him.

Jokic showed frustration multiple times with the way he was being guarded.

With less than seven minutes to play, Jokic elbowed Luguentz Dort in the jaw while Dort was guarding Jokic in the lane.

Dort remained down for several moments, and after a lengthy review, Jokic was called for a Flagrant 1 foul. It was Jokic’s fifth foul of the game.

But Jokic never picked up his sixth, and scored 16 points from that point on to help the Nuggets stay in it for Westbrook and Gordon to team up for the final play.

Jokic also added 22 rebounds, tying his career playoff high.

‘He had some unbelievable finishes around the basket,’ Adelman said.

Westbrook, who was a longtime star with the Thunder, helped keep Denver in it.

With less than five minutes left in the third quarter, Oklahoma City led by 14 points.

But the Nuggets ended the quarter on a 17-8 run to cut the deficit to five before the end of the quarter.

Westbrook scored eight of his 10 third-quarter points during the stretch.

Oklahoma City missed its first 10 3-pointers before Alex Caruso’s 3-pointer early in the second quarter.

Caruso added 20 points for the Thunder, who will host the Nuggets in Game 2 Wednesday, eager to get back in the win column.

‘No one just walks their way through a series at this point in the season,’ Daigneault said.

Denver Nuggets vs. Oklahoma City Thunder highlights

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Winners, losers as longshot moves to first in NHL draft lottery

Sport 4 Mins Read

The NHL draft lottery had a new look and a vastly different result.

The 23rd-place New York Islanders earned the right to pick first overall in the June 27-28 draft by winning the first live draft lottery in league history on Monday. The 19th-place Utah Hockey Club won the other drawing and moved up the maximum allowed 10 spots to fourth place.

The Islanders, currently between general managers, had 3.5% odds of winning the No. 1 overall pick. They will select first for the first time since drafting John Tavares in 2009.

The top-ranked North American prospect is Matthew Schaefer, though NHL Central Scouting said it’s close. The Erie (Pennsylvania) Otters defenseman missed the rest of the season after breaking his collarbone during the winter while playing for Team Canada at the world junior hockey championship. He had 22 points in 17 games.

Last year, the last-place San Jose Sharks and the 31st-place Chicago Blackhawks held onto their current spots and picked first and second, respectively. They will pick second and third this year.

Previously, the draw was conducted off camera, and deputy commissioner Bill Daly would turn over cards with team logos on them until the winner was revealed. But everyone got to watch the draw of the lottery balls live, and commissioner Gary Bettman was in the room, too.

NHL draft order after the lottery

  1. New York Islanders
  2. San Jose Sharks
  3. Chicago Blackhawks
  4. Utah Hockey Club
  5. Nashville Predators
  6. Philadelphia Flyers
  7. Boston Bruins
  8. Seattle Kraken
  9. Buffalo Sabres
  10. Anaheim Ducks
  11. Pittsburgh Penguins
  12. New York Rangers
  13. Detroit Red Wings
  14. Columbus Blue Jackets
  15. Vancouver Canucks
  16. Montreal Canadiens (from Calgary Flames)

Draft lottery winners

Next Islanders general manager

Nice perk for whoever lands the job to replace Lou Lamoriello. The Islanders didn’t have much of a chance to win the draft lottery, but they now will land a solid prospect. Dan Marr, vice president of NHL Central Scouting, said, ‘Schaefer easily projects as a future All-Star in the NHL.”

Utah Hockey Club

They were competitive in their first season in Salt Lake City and missed the playoffs by nine points. By winning the second drawing, they’ll pick fourth this year after choosing sixth in 2024.

Sharks and Blackhawks

Because Utah could only move up to fourth, the Sharks and Blackhawks move back only one spot each. If Schaefer goes first, these teams could end up with Michael Misa, James Hagens or Anton Frondell.

Draft lottery losers

Nashville Predators

They had a surprisingly bad season despite adding free agents Steven Stamkos and Jonathan Marchessault. Despite having the third-best odds to win, they drop to fifth.

The live drawing

There’s probably a reason this is done off camera. ESPN did a great job of explaining, but it was a little tedious to watch, starting with the deliberate loading of the lottery balls. Then we watch them bounce around for 30 seconds before one was drawn, then the process was repeated twice. Before the fourth and deciding ball was drawn, they cut to commercial, followed by another 30 seconds of bouncing.

Calgary Flames

After three balls in the second drawing, the Flames were in the mix to move from 16th to sixth. If that happened, under trade terms with Montreal, they would have held onto that pick and instead sent the Canadiens the pick that Calgary had acquired in a trade with the Panthers. But Utah won. So no sixth pick, no 16th pick (heading to Montreal). They’ll pick wherever the Panthers land, which could be much later.

Top North American skaters

  1. Erie (OHL) defenseman Matthew Schaefer
  2. Saginaw (OHL) center Michael Misa
  3. Boston College center James Hagens
  4. Brantford (OHL) center Jake O’Brien
  5. Seattle (WHL) defenseman Radim Mrtka
  6. Brampton (OHL) right wing Porter Martone
  7. Moncton (QMJHL) center Caleb Desnoyers
  8. Brandon (WHL) center Roger McQueen
  9. Barrie (OHL) defenseman Kashawn Aitcheson
  10. Everett (WHL) left wing Carter Bear

Top international skaters

  1. Djurgarden (Sweden) center Anton Frondell
  2. Djurgarden (Sweden) right wing Victor Eklund
  3. Modo Jr. (Sweden) Milton Gastrin
  4. Karlovy Vary (Czechia) left wing Vojtech Cihar
  5. Ufa Jr. (Russia) right wing Alexander Zharovsky

When is the NHL draft?

The 2025 NHL Draft will be held June 27-28. The first round will be on June 27 and rounds 2-7 will be held the next day. The times haven’t been announced yet. It will be held in Los Angeles at L.A. Live’s Peacock Theater. Top prospects will be there, but not team representatives, who will take part virtually.

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Celtics’ Porzingis pulled from Game 1 with non-COVID illness

Sport 2 Mins Read

What’s wrong with Boston big man Kristaps Porzingis?

The Celtics pulled Porzingis midway through the second quarter of their opening game against the New York Knicks in the Eastern Conference semifinals Monday night.

While he briefly appeared after halftime, he went back to the locker room, and the Celtics announced he was questionable to return to the game thanks to a non-COVID illness. He did not return, and the Knicks overcame a 20-point deficit to win 118-115 in overtime.

Porzingis was not on the injury report before Game 1. It is unclear if he will be available for Game 2 on Wednesday (7 p.m. ET, TNT).

“It impacts the game because of his ability on both ends of the floor. … Hopefully, he’s ready for Game 2,’ Celtics coach Joe Mazzulla said after the Game 1 loss. Mazzulla did not provide any specifics about the illness.

He missed all four of his shot attempts and grabbed four rebounds in the 14 minutes he played. The 7-2, 240-pound center/forward is averaging 19.5 points and 6.8 rebounds.

In the opening round vs. the Orlando Magic, Porzingis suffered a cut on his forehead that required stitches.

He missed 11 games in February and March with an upper respiratory illness. During Boston’s run to the title last season, Porzingis sat out six games with a calf strain. He returned for the NBA Finals, only to suffer a foot injury that required offseason surgery.

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Late 20’s man with poor fashion sense rates sports fits at Met Gala

Sport 8 Mins Read

I am a 28-year-old unmarried man with very poor fashion sense. I have never watched the Met Gala before. In the last year, three of my female friends have asked to take me on shopping sprees in order to improve my fashion. I have not taken any of them up on that offer.

Despite these beaming qualifications, USA TODAY determined it fit for me to judge the outfits of the sports stars at the 2025 Met Gala.

Why? I’ve no idea, but I have seen how my boss dresses and I’m definitely more qualified than him.

Regardless, the Met Gala is an annual event that gives celebrities the opportunity to dress their best, strut their stuff, and put their best foot forward all while facing massive criticism from experts everywhere. Having never seen the Met Gala before, I haven’t the slightest idea what to expect, but I will be handing out harsh grades for everyone.

I know that the theme is ‘Superfine: Tailoring Black Style,’ but I am white and, in case I hadn’t made it clear already, have no style. Therefore, forewarning, that theme is getting thrown out the window in my assessments.

So, buckle up, you may have seen opinions from people with fashion degrees and years of experience with this type of event, but have you ever heard opinions from a man with Cheeto dust on more than half of the shirts in his closet? I doubt it.

Sports figure fit checks at 2025 Met Gala

Noah Lyles

The fastest man alive, Olympic gold medalist Noah Lyles was one of the first sports figures to show at the 2025 Met Gala. Lyles wore Thom Browne, and I have no idea if that is good or not, but I do know that is not how Tom is typically spelled, making the fit seem that much more high-class.

As for the fit itself, I believe I can speak for all men when I say we appreciate a good jacket. This is a nice jacket with a solid cane to boot. The rings and jewelry look outstanding as well. That said, shorts and a jacket is a bold choice. While you certainly can’t blame a track star for wanting to show off his stems, he covers most of them up with tube socks.

Venus Williams

Fur coat? Fantastic. The short skirt feels like a subtle tennis homage, and paired with the dark green, this fit fits the elder Williams incredibly well. Her hair almost looks angelic too. It all looks great, but I can’t for the life of me understand who decided that shirt needed a pocket.

Everything about the outfit sparkles, but then there’s just a basic envelope or Game of Thrones-banner looking pocket that draws away from the entire thing. Am I missing something? Probably. Do I care? No.

Simone Biles

Incredible. That is all I have to say. Everything feels like it flows together extremely well. My only gripe would be that the train flowing in the back seems bulky and heavy. Might be tough to drag that around for an entire night.

Sabrina Ionescu

When in doubt, go with the basics. No one will ever criticize a nice jacket, a slender black skirt, and a well-fitting top. That said, compared to the rest of the outfits we’ve seen tonight, this can’t help but feel a bit underwhelming. Where are the extravagant sparkles? Diamonds only on the wrists and fingers? This feels like an outfit I’d see at a nice dinner. Albeit, she’d be far and away the best-dressed person at said dinner, but for the Met Gala, this feels rather tame.

Lewis Hamilton

Europeans love to claim that they have better fashion sense than Americans, and dad gummit, it’s hard to argue that point after seeing Hamilton’s outfit. Does he look like a stereotypical foreign dictator in a superhero film? Absolutely, but that attires goes dangerously hard in every one of those films.

Dwyane Wade

The vest here is immaculate. It’s eye-catching, yet subtle. It’s the first thing you see, but it’s hidden behind the jacket, which looks great as well. The pants are pretty basic, but you can never go wrong with black slacks.

Unfortunately, this outfit falls apart with the undershirt. What even is that? A tuxedo T-shirt? Why even have an undershirt at that point? Wade is a former NBA All-Pro. He could have just had some of his pecs showing and it would’ve been great, instead, he’s sitting there with a fake tie plastered looking like it was painted. It takes away from the rest of the outfit, which is fantastic, and for that, it is unforgivable.

Serena Williams

Now, this, I can get behind. The tail is certainly giving off ‘king-sized comforter’ vibes, but the rest of the outfit seems godly. You could put Serena Williams in any Broadway play about the Greek, Roman, Egyptian, or Norse pantheons and she would fit right in. The transparent streak across the thigh as well –*chef’s kiss,* brilliant.

Saquon Barkley

Hey, Saquon Barkley looks pretty good … for a man attending junior prom. While the shoes are certainly shined enough for the Met Gala, the rest of the outfit seems pretty bland. I don’t know if Barkley has a wedding to attend after this, but given how well everyone else is dressed, Barkley’s fit is too basic for me to be impressed. Anyone can look good in a fitted black suit with a pocket square.

Joe Burrow

Now here’s a suit I can appreciate. Top button undone to reveal a nice necklace, no pocket square but instead a fancy broach, square sunglasses. It all screams ‘I know how to dress well and you don’t.’ That subtle arrogance is what makes Joe Burrow an elite quarterback, and it’s clear he’s not going anywhere any time soon.

Breanna Stewart

I don’t know what’s going on with her hair. It looks like a mix of Cruela de Vil, Brandon Routh’s Superman, and the poster for A Nightmare Before Christmas. Keep in mind, I could never get my hair to look that good.

The rest of the ensemble is great though. The necklace hangs somewhat low, which looks nice, and while all-white can sometimes be too much, it isn’t overwhelming for Stewart. The hat tilt is also a nice touch. All in all though, this feels like something that would be better suited for the Kentucky Derby instead of the Met Gala.

Angel Reese

I don’t know which outfit I like more, Simone Biles’ or Angel Reese’s. This fit goes incredibly hard, mixing what I believe is both a traditional sleek look with a more modern design as well. The more I look at this outfit, the more I love it. I genuinely can’t find one thing wrong with it. She looks remarkable.

Colin Kaepernick

Suits are always an easy choice, but a checkered red suit with a cloth over the back can be risky, yet Kaepernick pulls this off flawlessly. From the pin to the rings, to the singular button on the suit, it all works tremendously.

If I did have one gripe with this outfit, it’d have to be the collar. Why are the tips not pointed? I’ve never seen a squared off collar, and I’m not sure I ever want to see one again after this. Otherwise though, perfect.

Gabby Thomas

While I do love the beads dangling from whatever those sleeves are, the sleeves themselves are too wide. I (a man with no fashion sense) believe they would look better as soft fabric dangling on her elbow or lower tricep. Instead, they are out wide and probably make it tough for her to fit through doorways without scuffing the outfit.

It’s a shame because the vest and outfit both look tremendous and she looks incredible in bright red, but I cannot get over those sleeves (or whatever they are called).

Sha’Carri Richardson

Given what we’ve seen Richardson wear in the past, this seems almost tame. But that doesn’t mean it’s bad. She looks the most elegant she ever has, and while pink and yellow can be tough to match, the colors match effortlessly here. The long, dark hair is also an incredible look that contrasts with the outfit extremely well. No complaints, just praise.

Justin Jefferson

I have not seen Sinners in theaters yet, but based on the few clips on TikTok I’ve received, I believe Justin Jefferson modeled his entire look off Michael B. Jordan. He looks like he runs a speak easy in the bayou. It’s not bad, and it’s certainly not bland, but I don’t think Jefferson pulls off the baggy suit look as well as someone like Kaepernick did this year.

That said, the no-belt and high-waisted look on the pants are certainly working well for Jettas. I don’t even mind the tie tucked into the pants which would normally give me an aneurysm. None of this outfit seems particularly bad, but none of it stands out either. I will give his outfit the edge over Saquon Barkley though, given its many non-traditional aspects.

This post appeared first on USA TODAY

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Sport

Dan who? Commanders owner Josh Harris making people forget Dan Snyder

Sport 7 Mins Read

Chalk up another big win for the Washington Commanders, who have come a mighty long way in a very short time since what’s-his-name buried the dignity of that used-to-be-called franchise so deep into the mud.

Last week, the Commanders and native son owner Josh Harris announced a deal to bring the franchise home from the Maryland suburbs in 2030, pending D.C. City Council approval, with a $3.7 billion stadium project on the hallowed grounds of RFK Stadium.

On Monday came official word that the NFL draft, hosted by the Commanders, is coming in 2027 to the National Mall. Lights. Cameras. Monuments. And Mel Kiper, Jr.

Let the Congressional Record show: No way this gets done with Dan Snyder.

Yet here’s what was always possible, once the NFL was able to separate itself from the widely reviled Snyder in 2023 for the record sale tag of $6.05 billion: The NFL again has a signature franchise in the nation’s capital. Long-suffering fans wearing “Hog” noses and memories of the “Fun Bunch” are back on the bandwagon, ushering in a new generation. Politicos on Capitol Hill, even in these perilous times, might have reason again to come across the aisle for the sake of football?

Snyder swung and missed in seeking stadium deals in D.C., Maryland and Virginia. It has taken less than two years for Harris & Co. to strike the stadium deal and deliver the draft the NFL has long envisioned for D.C. Apparently, entities that couldn’t or wouldn’t do business with the franchise when it was owned by Snyder, are now more willing and able.

“They’ve brought honor back to the franchise,” sports consultant Marc Ganis told USA TODAY Sports, as news of the draft announcement spread. “That’s what changed the entire political landscape. It’s the perception of the franchise. It was always vitally important to the community, but no one wanted to go near it, politically, especially, for many years.”

And shoot, the Commanders product on the field has blown up, too, with rookie-of-the-year Jayden Daniels leading the way to the NFC title game in January.

What significant markers for the comeback of one of the league’s oldest franchises.

Take it from President Donald Trump. The red-hot Commanders are …

Wait a minute. Take it from who?

That it was Trump who made the announcement about the draft at the White House, with Harris, NFL commissioner Roger Goodell and Washington mayor Muriel Bowser in the wings, was quite the play on political football. The draft, Trump trumpeted, is “a big thing.”

And, like I’d suspect for many D.C. residents (hey, now that Canada isn’t in the mix, anyone for being the 51st state?), Trump is bullish on the idea of the 65,000-seat domed stadium.

“I don’t think there’s a better site than anywhere in the world than that site,” Trump declared. (Please, given the pending process, just don’t try to make it an executive order).

Be not deceived by the optics. While it is undoubtedly beneficial to have the president supporting the NFL’s biggest offseason tentpole event, the D.C. draft has been in the league’s vision for years. He does not get credit for this. Trump hopped on a train that was already moving toward the end zone without his involvement.

Then again, it’s hardly surprising that Trump, who in February became the first sitting president to attend a Super Bowl, seized on a prime opportunity. A week earlier, Trump, after golfing with Saquon Barkley, hosted the Super Bowl champion Philadelphia Eagles for a ceremony – even though Super Bowl MVP Jalen Hurts and more than a dozen players didn’t show up – and now he’s on the clock for the draft.

This, after spending time in recent days with Nick Saban as speculation persists that he will take aim at the NIL impact on college sports.

Yet big announcements like we saw on Monday, or a week ago Monday (when Trump lobbied to keep the “tush push” while feting the champs) also provide some cover of distraction for matters that I’d suspect matter more to many Americans.

You know. The economy, tariffs and the threat of a recession. Democracy. Respect for the Constitution and judicial system. Political targeting. Due process for deportations. And so on.

When the Q&A part of the NFL event got underway, football took a back seat to questions about illegal immigration, Alcatraz, a potential trade deal with China…and so on.

Watching from home, I flashed back to the Trump from his first administration, when he viciously attacked the NFL – and particularly its players – as the national anthem protests inspired by Colin Kaepernick over the killings of unarmed minorities by police gained momentum as part of a larger cultural movement.

What’s the reaction – from Trump and the NFL – if there are more protests ahead?

Already, Trump has made it clear what he thinks of one of the NFL’s core social principles – diversity, equity and inclusion (DEI) – while attacking it on a broad, systematic scale. The NFL, to its credit, has held firm with its DEI commitment, against the grain of so many companies rolling back what they once said they stood for.

The NFL still has the Rooney Rule, an Accelerator Program and will collaborate with the Black College Football Hall of Fame next month for the Ozzie Newsome General Manager Forum and a Quarterback Coaching Summit.

Then again, the politics flowed both ways as Goodell – who often defends the NFL’s DEI efforts with vigor – showered Trump with gratitude for his support on the stadium deal.

“Great to come back home,” said Goodell, who, like Harris, grew up in the District. His late father, Charles, represented New York as a U.S. Senator and Congressman, and left a legacy for his moral standing as a prominent anti-Vietnam War advocate.

Yet Goodell was clearly on a political business mission at the White House. It seemed a bit odd, at first, that he thanked Trump for the North American trade agreement struck during the President’s first term. Then when Trump replied that the money earned by the NFL was well-deserved – the pact allowed local TV ads to be shown in Canada during the Super Bowl, increasing the value of the league’s Canadian broadcasting rights – the politics were crystal clear.

Harris knows. A pivotal factor for progressing on the stadium deal came in December, when Congress – despite apparent resistance from Maryland lawmakers, with the team currently playing in their state – transferred jurisdiction of the RFK Stadium site from the federal government to the District of Columbia.

Ganis doubts this happens without the ownership change. Snyder was that toxic.

“Nobody ever touches it,” Ganis said. “He doesn’t get the legislation for the conveyance of the property; the deal with the city doesn’t happen. Roger, as hard as he’s worked on this for years, and as much influence as he had, could not get anything through.”

It’s a new day now, like a dream for D.C.’s football faithful. It’s no wonder that Harris took a moment at the White House to reflect on that theme.

“I grew up here,” he said. “D.C. used to stop on Sundays. Everyone would be inside, watching football; (or)…glued at the stadium. So, we want to bring that back.”

That vision for the Commanders’ chief is fueled these days by so much momentum.

Follow Jarrett Bell on social media: @JarrettBell

This post appeared first on USA TODAY

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Editor's pick

Skechers to be acquired by 3G Capital in take-private deal, shares soar 25%

Editor's pick 3 Mins Read

Footwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday.

The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover deals. Shares of Skechers soared more than 25% after the transaction was announced.

“With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” Skechers’ CEO, Robert Greenberg, said in a news release.

“Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company’s long-term growth,” he said.

The transaction comes at a difficult time for the retail industry and in particular, the footwear sector, which relies on discretionary spending and overseas supply chains that are now in the crosshairs of President Donald Trump’s trade war. 

Last week Skechers signed onto a letter penned by the Footwear Distributors and Retailers of America trade group asking for an exemption from Trump’s tariffs.

And, a little over a week ago, Skechers withdrew its full-year 2025 guidance “due to macroeconomic uncertainty stemming from global trade policies” as companies brace for a drop in consumer spending that will disproportionately impact the footwear and apparel sectors. 

Skechers declined to say how much of its supply chain is based in China, which is currently facing 145% tariffs, but cautioned that two-thirds of its business is outside of the U.S. and therefore won’t see as much of an impact. 

A source close to the deal who spoke on the condition of anonymity to discuss nonpublic details said the trade environment didn’t force Skechers into a deal and that 3G Capital had been interested in acquiring the company for years.

Tariffs do present some uncertainty in the short term, but 3G Capital believes the long-term outlook of Skechers’ business remains attractive and is well positioned for growth, the person said.

Skechers is the third-largest footwear company in the world behind Nike and Adidas.

Greenberg will stay on as Skechers’ CEO and continue enacting the company’s strategy after the acquisition is completed.

This post appeared first on NBC NEWS

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Rite Aid files for second bankruptcy in two years

Editor's pick 2 Mins Read

U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing.

Pharmacy chains, such as Rite Aid, Walgreens and CVS, have been under pressure as falling drug margins and competition from Walmart and Amazon have led to a closure of hundreds of stores.

Walgreens, facing significant losses, recently agreed to a $10 billion buyout by private equity firm Sycamore Partners — a dramatic decline from its $100 billion valuation a decade ago, underscoring the severe challenges facing traditional pharmacy retailers.

Rite Aid used its previous bankruptcy in 2023 to cut $2 billion in debt, close hundreds of stores, sell its pharmacy benefit company, Elixir, and negotiate settlements with its lenders, drug distribution partner McKesson and other creditors.

The previous bankruptcy also resolved hundreds of lawsuits alleging that Rite Aid ignored red flags when filling suspicious prescriptions for addictive opioid pain drugs.

But despite those settlements, Rite Aid still had $2.5 billion in debt when it emerged from bankruptcy as a private company owned by its lenders in 2024.

According to Monday’s court filing, the company has estimated assets and liabilities in the range of $1 billion to $10 billion.

The company was unable to secure additional capital from lenders, which it needed to continue operating the business, Bloomberg News reported earlier in the day, citing an internal letter from CEO Matthew Schroeder to the company’s employees.

The letter also states that the drug store chain intends to reduce its workforce at its corporate offices in Pennsylvania.

Rite Aid operated about 2,000 pharmacies in 2023 but now has only 1,250 stores across the U.S., with recent closures significantly reducing its presence in markets such as Ohio and Michigan.

This post appeared first on NBC NEWS

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