Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell called the CEOs of every major systemically important U.S. bank to Treasury headquarters on Tuesday to warn them about cybersecurity risks from Anthropic’s Claude Mythos model,

Bloomberg reported on Thursday that Citigroup Inc (NYSE:C), Morgan Stanley (NYSE:MS), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), and Goldman Sachs Group Inc (NYSE:GS) all sent their chief executives. JPMorgan Chase & Co (NYSE:JPM) CEO Jamie Dimon was unable to attend.

Why Banks Are Exposed

Mythos found thousands of zero-day vulnerabilities across every major operating system and web browser, including a 27-year-old bug in OpenBSD that survived 5 million passes by automated testing tools.

That’s a problem for Wall Street, where a single breach at a systemically important bank could cascade through the financial system.

Many of the largest U.S. banks still run core systems on legacy code dating back decades.

JPMorgan’s retail banking core reportedly still uses elements of the Hogan system from the 1980s.

If Mythos can surface flaws that every existing security tool missed, banks might be one of the more vulnerable sectors.

The Cybersecurity Trade

Anthropic launched Project Glasswing this week, giving roughly 40 companies access to Mythos for defensive security work.

Cloudflare Inc (NYSE:NET) is down 13% today and was not named among the 12 launch partners, while CrowdStrike Holdings Inc (NASDAQ:CRWD) has fallen 7% today despite being named a launch partner.

The market appears to be repricing the entire sector around a simple question: if an AI model can find vulnerabilities that elite human researchers missed for decades, what are cybersecurity companies actually selling?

Anthropic Keeps Pulling Away

Anthropic’s annualized revenue reportedly hit $30 billion in April, surpassing OpenAI’s roughly $24 billion run rate. The company went from $9 billion at year-end 2025 to $30 billion in about four months, with over 1,000 companies now spending more than $1 million annually on Anthropic products.

Polymarket traders give Anthropic a 63% chance of going public before OpenAI, with an October 2026 listing at a $380 billion valuation considered the base case.

A separate contract prices a 94% chance Anthropic tops $500 billion in valuation by year-end.

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