New Developments in Bitcoin Infrastructure: From Zetrix's U.S. Listing to Block's Layoffs and AI Transition—What Are the Giants Planning?

In early 2026, the infrastructure track of the crypto world presents two completely different yet secretly interconnected trajectories. One leads to the highest halls of traditional finance, as Malaysian digital infrastructure provider Zetrix receives funding from the World Bank and plans to take its AI subsidiary public on Nasdaq; the other points toward internal efficiency reengineering, with payment giant Block announcing layoffs of over 4,000 employees and a full transformation into an “AI-native” organization.

On the surface, these are two isolated events: one seeking compliant capital backing in the East, the other replacing human labor with technology in the West. But when viewed within the longer cycle of Bitcoin infrastructure evolution, both signals point to the same core question: as Bitcoin gradually gains mainstream acceptance as a “bankable” asset, what structural changes are occurring in the physical and digital infrastructure supporting it?

Event Overview: Fundraising, Going Public, and a Fight for Survival

This week, two news stories from different tracks drew widespread market attention.

On February 26, Malaysian listed company Zetrix AI Bhd announced it had secured approximately $40 million in equity financing from the International Finance Corporation (IFC), part of the World Bank Group. The funds will be used to expand digital infrastructure in Malaysia and other emerging Southeast Asian markets, including supporting national digital identity systems and blockchain service networks. A more critical signal is that Zetrix plans to spin off its AI business unit, AI Foundation Lab, with the goal of going public on Nasdaq by the end of 2026.

Almost simultaneously, payment giant Block, led by Twitter founder Jack Dorsey, released its Q4 earnings report and announced a shocking decision: a one-time layoff of over 4,000 employees, nearly half of its workforce. Block described this restructuring as a key step toward transforming into an “AI-native” company, with its internally developed AI agent tool “Goose” capable of automating many coding and operational tasks.

Background and Timeline: The Intersection of Two Trajectories

Looking at these two events over a longer timeline reveals they are not isolated nodes.

Zetrix’s strategy clearly reflects a digitalization push in emerging markets. Its core focus is on Layer 1 blockchain networks, aiming to support cross-border trade, logistics, and supply chain finance. The investment from the World Bank not only provides strong credit backing for its Nasdaq listing plan but also indicates that sovereign-backed capital is entering the blockchain infrastructure space through compliant channels.

Meanwhile, Block’s transformation follows a more typical Silicon Valley path. Since 2024, Jack Dorsey has publicly expressed thoughts on the relationship between AI and fiat currency structures. He views Block’s payment services (including Cash App and Square) as entry points into the Bitcoin ecosystem, with AI as a tool to enhance this entry’s efficiency. Prior to the layoffs, Block posted strong results: a full-year gross profit of $10.36 billion in 2025, up 17% year-over-year. Engaging in such radical restructuring while in a position of strength suggests Dorsey perceives the threat not from peer competition but from a generational shift in technological paradigms.

Data and Structural Analysis: Capital Flows and Labor Cost Substitution

From the perspectives of capital and efficiency, the deeper structures of these two events become clearer.

Capital Dimension: The $40 million funding for Zetrix, while not huge in the crypto industry, carries significance beyond the numbers. IFC, as an entity focused on private sector investments within the World Bank Group, investing in Zetrix signifies that blockchain infrastructure is now included in “development finance.” This is no longer risk capital chasing high returns but sovereign-level capital pre-positioning in digital sovereignty. If Zetrix’s AI subsidiary successfully lists on Nasdaq, it will open a channel connecting emerging market entities to mainstream U.S. capital markets, setting a demonstration effect for blockchain infrastructure in Southeast Asia and beyond.

Efficiency Dimension: Block’s layoffs are a test of the “human-machine ratio” at its extreme. After the layoffs, the total number of employees will drop from over 10,000 to below 6,000, yet the market responded with a post-hours stock surge of over 25%. The logic is clear: with 2025 Q4 gross profit reaching $2.87 billion, up 24% YoY, and future profit expectations (adjusted EPS of $3.66 in 2026) built on a leaner workforce, the trend is brutal but evident: in an era where AI can automate coding and system maintenance, the physical layer (human labor) of Bitcoin infrastructure is being massively replaced by technological layers.

Public Opinion and Divergent Views: Cheers, Concerns, and Disagreements

Market sentiment around these two events shows clear stratification.

For Zetrix’s Nasdaq plan, mainstream views see it as a “regulatory victory.” Supporters believe that World Bank backing signifies that blockchain technology is finally breaking into the mainstream financial system. The integration of national digital identity systems and blockchain service networks could solve long-standing data silo issues. However, some observers warn that this deep compliance binding might cause the project to drift away from the original decentralization ethos of blockchain, turning into a traditional financial infrastructure cloaked in blockchain.

Block’s layoffs have sparked more intense debate. Some praise Jack Dorsey’s decisiveness, viewing it as a necessary stance in the face of technological revolution. The maturity of AI tools like Goose allows Block to achieve faster iteration with a smaller team, aligning with the core pursuit of efficiency in tech companies. Others express concern: when a profitable company cuts nearly half its staff under the banner of “AI transformation,” and the capital market responds with a big rally, it sets a dangerous precedent for the entire tech industry. Structural unemployment in the labor market may just be beginning.

Authenticity of the Narratives: Efficiency First and Sovereign Pursuit

Dispassionately, we should examine the authenticity behind these two narratives.

Zetrix’s “Nasdaq narrative” essentially reflects a dual desire for “sovereign credit” and “market liquidity” in emerging markets’ blockchain projects. The real significance of the World Bank’s investment isn’t the $40 million itself but the establishment of a verifiable compliance framework for future U.S. investors. If this framework can accommodate the peculiarities of blockchain businesses, Zetrix’s listing path remains feasible.

Block’s “AI narrative” is more complex. Dorsey emphasizes in shareholder letters that the restructuring aims to make the company more “focused.” AI tools can indeed replace repetitive labor, but Block’s core businesses—whether Bitcoin trading via Cash App or merchant services via Square—are fundamentally about interactions between people and capital. AI can optimize processes but cannot replace Dorsey’s belief in Bitcoin as a native internet currency. Therefore, rather than a pure technological upgrade, this is a philosophical organizational shift: Block is transforming into a sharper, more focused wedge to penetrate traditional finance more precisely.

Industry Impact: The “Bidirectional Movement” of Bitcoin Infrastructure

Projecting these trends onto the entire Bitcoin ecosystem reveals that infrastructure is undergoing a “bidirectional movement.”

Upward: Represented by Zetrix, Bitcoin infrastructure is aligning with the highest echelons of traditional finance. Listing, compliance, and sovereign capital infusion aim to make Bitcoin and blockchain technology acceptable to the existing financial system. Citibank’s recent announcement of launching infrastructure to integrate Bitcoin into its over $30 trillion traditional asset management framework echoes this trend. As Bitcoin becomes “bankable,” its volatility may decrease, but it will increasingly resemble a traditional asset.

Downward: Represented by Block, Bitcoin infrastructure is delving into the deepest layers of technology. Layoffs and AI transformation aim to reduce operational costs and improve system efficiency, ultimately enabling Bitcoin’s financial services to reach a broader population. Cheaper transactions, smoother wallet experiences, smarter customer service—these underlying efficiency improvements are the foundation for Bitcoin’s evolution into a “super-sovereign currency.”

Scenario Evolution and Future Projections

Based on current facts, several future scenarios can be envisioned:

Scenario 1: Spiraling Upward of Compliance and Efficiency (Higher Probability)

Zetrix successfully lists on Nasdaq, opening a viable capital pathway for other emerging market blockchain projects. Meanwhile, Block’s AI transformation significantly boosts its gross margins, prompting more crypto firms to follow suit, ushering in a new era of “light manpower, heavy technology.” Bitcoin infrastructure gains mainstream capital recognition while operational efficiency soars.

Scenario 2: Compliance Costs Erode Decentralization (Medium Probability)

To meet Nasdaq listing requirements, Zetrix must centralize parts of its blockchain network, such as node validation and data transparency, causing community controversy and reducing the utility of its native tokens. The market begins to question: when blockchain infrastructure relies too heavily on traditional capital, can it still preserve its core values?

Scenario 3: AI Efficiency Triggers Security and Ethical Risks (Medium Probability)

Block’s AI tool Goose encounters major failures during automation, or becomes a new attack vector for hackers. After layoffs, key knowledge is lost, leading to system instability. This forces the industry to reconsider the boundaries of “AI-native” and establish more robust human-AI collaboration security mechanisms.

Scenario 4: Fusion of Dual Narratives into a New Species (Low Probability, but High Impact)

A fully automated, AI-driven blockchain infrastructure company listed on major global stock exchanges, with no large staff but a team of engineers maintaining AI models, processes hundreds of billions of dollars in transactions on its Bitcoin layer-2 network. Both Zetrix and Block’s paths ultimately converge toward this future.