Evening Scan

The day's biggest story wasn't another AI model drop or startup funding round — it was China mobilizing multiple agencies to probe Meta's $2B Manus acquisition. Meanwhile, Sequoia raised $7B under new leadership, proving that even in 2026, the largest moves still happen behind closed doors.

$7B — Sequoia's new fund size, double their last expansion vehicle from 2022.. (Bloomberg)

China mobilizes multiple agencies to probe Meta's $2B Manus deal

Some officials worry aggressive measures may deter tech sector investment. (Financial Times)

Sequoia raised ~$7B for a new fund under its new leadership

First fundraising round since the leadership transition. They've doubled down. (Bloomberg)

OnlyFans is in advanced talks to sell a below 20% stake at a $3B+ valuation

Previous reports suggested they wanted to sell ~60% at a ~$5.5B valuation — apparently that was optimistic. (Financial Times)

Anthropic CEO Dario Amodei scheduled for White House meeting with chief of staff

Peace talks in the West Wing after months of regulatory tension. (Axios)

“Wall Street can't get enough bitcoin right now. You wouldn't know it though if you read the headlines about bitcoin's price action.” — The Pomp Letter