February 26 News: Crypto industry figure CZ recently stated that Wall Street has long focused on the risks of crypto assets, but the truly disruptive force may come from artificial intelligence. Coinciding with his comments, Anthropic announced that its Claude tool can accelerate enterprise modernization of COBOL legacy systems, sparking market concerns about traditional IT service models. As a result, IBM’s stock price dropped more than 13% in a single day on Monday.
COBOL, as a long-standing programming language, is still widely used in major banks and core enterprise systems. System modernization has long contributed billions of dollars in revenue to IBM. Anthropic claims that AI can complete related migration work more efficiently and at lower cost. This statement is interpreted by investors as a potential threat to traditional outsourcing and consulting businesses, intensifying selling pressure.
CZ posted on social media that traditional financial institutions have repeatedly warned about crypto risks over the years but may have underestimated the deep impact of AI on business structures. This view also reflects the ongoing cognitive gap between the crypto industry and traditional finance. For a long time, Wall Street executives like Jamie Dimon have taken a cautious stance on Bitcoin, while some crypto practitioners believe traditional institutions are facing a paradigm shift in technology.
Meanwhile, AI automation is becoming a new focal point for risk discussions in capital markets. Research firm Citrini Research’s report simulates scenarios indicating that AI-driven automation could impact white-collar job structures and further influence consumer and macroeconomic expectations. Although the report is hypothetical, it reflects the high level of concern in the financial sector about the productivity revolution brought by AI.
So far, IBM has not directly responded to Claude’s capabilities in COBOL modernization. Market analysts believe that if AI tools continue to penetrate enterprise software upgrades, legacy system transformations, and financial infrastructure maintenance, the valuation logic of traditional tech service companies may be re-priced. Who will become Wall Street’s core focus—AI or crypto technology—is also becoming an important topic at the intersection of technology and finance in 2026.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Crypto Market Plunges As Extreme Fear Controls Investor Sentiment
The global crypto market is notably bearish, with a 2.93% drop in market capitalization to $2.32T. Bitcoin and Ethereum saw decreases of 3.07% and 4.01%, respectively. Meanwhile, notable gainers include $XBTC, $TRUMP, and $PEPE. DeFi TVL and NFT sales also declined significantly, while key investments from YZi Labs and Kazakhstan's central bank emerged.
BlockChainReporter5h ago
Bitcoin Correction Halts Institutional Demand as ETFs Witness $348.83 Million Withdrawals - U.Today
Bitcoin ETFs experienced a significant withdrawal of $348 million amid declining institutional demand, reflecting a bearish sentiment in the market. Despite these outflows, BlackRock's ETF maintained its dominance.
UToday7h ago
Kazakhstan's Central Bank Will Invest Up to $350 Million in Crypto Assets: Reuters
Kazakhstan’s central bank plans to invest up to $350 million in cryptocurrencies and related assets, focusing on high-tech firms and financial products. This initiative aims to diversify investments and is linked to the development of Alatau City, a future smart city.
Decrypt8h ago
U.S. Ethereum Spot ETF experienced a net outflow of $23.5 million this week
Gate News Report, March 7, according to Farside monitoring data, U.S. Ethereum spot ETF has experienced a net outflow of $23.5 million this week.
GateNews9h ago
70% of assets heavily invested in Bitcoin! Mexican billionaire urges "buy quickly during the dip," and the wealthy dad is also increasing his holdings
Mexican billionaire Ricardo Salinas Pliego is heavily investing in Bitcoin, believing it can hedge against inflation and symbolize personal freedom. Robert Kiyosaki warns that a stock market crash is imminent and continues to increase his holdings in Bitcoin and precious metals, remaining confident. They both believe that Bitcoin has long-term value potential, and the current price dip is a good buying opportunity.
区块客10h ago
Citibank promotes "Bitcoin Banking": Striving to launch "Institutional-Grade Custody" and "Cross-Asset Collateral" services this year
Citigroup is pushing for the banking of Bitcoin, planning to deeply integrate it into the traditional financial system, with institutional-grade crypto custody services expected to launch in 2026. By simplifying Bitcoin transaction processes and reducing operational friction, Citigroup aims to attract more institutions to adopt digital assets further. Additionally, the bank is exploring the applications of stablecoins and blockchain deposit tokens, hoping to provide traditional financial institutions with more convenient ways to utilize capital.
区块客10h ago
