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The US Division of Commerce has chosen oracle suppliers Pyth Community and Chainlink to publish gross home product (GDP) knowledge on blockchains together with Bitcoin, Ethereum, and Solana.
The information despatched PYTH parabolic with a 90% surge to commerce at $0.2219 as of 6:29 a.m. EST.
“That is the primary time a federal company has printed financial statistical knowledge like this on the blockchain, and the newest means the Division is using progressive know-how to guard federal knowledge and promote public use,” the federal government division mentioned in a press launch.
“It’s solely becoming that the Commerce Division and President Donald Trump, the Crypto-President, publicly launch financial statistical knowledge on the blockchain,” mentioned US Secretary of Commerce Howard Lutnick. “We’re making America’s financial fact immutable and globally accessible like by no means earlier than, cementing our function because the blockchain capital of the world,” he added.
US Division Of Commerce Pushes Knowledge Throughout 9 Main Blockchains
Along with Bitcoin, Ethereum and Solana, the US Division of Commerce mentioned that it has additionally began publishing the GDP knowledge to different widespread networks together with Justin Solar’s TRON, Stellar, Avalanche, Arbitrum One, Polygon PoS, and Optimism.
In the meantime, crypto exchanges Coinbase, Gemini and Kraken “helped facilitate the Division’s publishing,” in keeping with the press launch.
Historic second with authorities knowledge now coming onchain, because of @howardlutnick’s management. Helpful in sensible contracts and oracles.
Coinbase is proud to assist @CommerceGov in bringing America onchain, together with on @base! https://t.co/Fxu71mo3UW
— Brian Armstrong (@brian_armstrong) August 28, 2025
The division has already printed a hash of the Bureau of Financial Evaluation’s quarterly GDP knowledge launch for Q2 2025 together with the topline GDP determine for Q2.
The hash was created by making use of the SHA256 cryptographic hash perform on a PDF file of the information launch.
After it was generated, the outputted hash was then pushed to the varied blockchains “both as a memo or as knowledge embedded in a wise contract, together with the topline determine, as every chain permitted,” in keeping with the press launch.
Numerous blockchain transaction hashes for the printed GDP knowledge (Supply: US Division of Commerce)
The sensible contract for the information was compiled utilizing Solidity compiler v0.8.30 on the Ethereum mainnet and v.0.8.24 on different chains, with optimizer disabled and with the Ethereum Digital Machine (EVM) model set to Prague on the mainnet and Cancun to elsewhere, the press launch added.
PYTH Goes Parabolic, Chainlink Tumbles
PYTH surged to an intraday excessive of $0.2489. However Chainlink’s LINK token posted a 24-hour loss throughout the identical interval.
All the opposite tasks talked about within the press launch additionally noticed their costs lower within the final 24 hours.
Crypto market chief BTC fell over 2%, whereas ETH, Abitrum’s ARB, Polygon POS, and Stellar’s XLM all noticed their costs drop 4%. TRON’s TRX, Optimism’s OP, and Avalanche’s AVAX noticed their costs fall 1% every, whereas Solana’s SOL dropped a fraction of a share.
Accuracy Of US Financial system Knowledge In Query
Blockchain know-how is thought for its excessive ranges of transparency and immutability. The transfer to place GDP knowledge on the blockchain comes because the accuracy of US financial knowledge is being known as into query.
Criticism reached a peak earlier this month following a significant downward revision of employment numbers, which prompted US President Donald Trump to say that the figures had been “rigged” for political functions.
Shortly thereafter, Trump fired the Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer.
Trump says Job’s Report is rigged (Supply: Reality Social)
Extra lately the GDP determine for the second quarter was revised as much as 3.3%, signalling the US financial system really grew sooner than anticipated, partly as a consequence of enterprise funding in mental property corresponding to AI.
Inflation was additionally revised all the way down to 2%, which is in keeping with the US Federal Reserve’s goal.
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