The Division of Commerce introduced Thursday it has begun importing its GDP information onto 9 blockchain networks, and also will enter partnerships with decentralized oracle networks Chainlink and Pyth to combine U.S. macroeconomic information inside the decentralized finance (DeFi) ecosystem and the broader crypto economic system.
The division’s GDP information launch for Q2 2025 has already been uploaded to Bitcoin, Ethereum, Solana, and 6 different blockchains: Tron, Avalanche, Stellar, and Ethereum layer-2 networks Polygon, Arbitrum, and Optimism. They have been aided in that effort by crypto exchanges Coinbase, Gemini, and Kraken, the division introduced.
Chainlink confirmed to Decrypt that the corporate was not concerned within the effort to add the GDP information immediately onto these networks.
Going ahead, the partnerships with Chainlink and Pyth will allow the dissemination of verified U.S. authorities information—together with GDP statistics, the inflation-tracking Private Consumption Expenditures (PCE) Value Index, and Actual Remaining Gross sales to Non-public Home Purchasers, a key measure of financial demand—throughout the DeFi ecosystem.
The initiative marks the primary time {that a} federal authorities company has ever revealed financial information on-chain. Commerce Secretary Howard Lutnick—whose Wall Road agency, Cantor Fitzgerald, is deeply concerned within the crypto economic system—teased the transfer at a White Home cupboard assembly earlier this week.
What’s the objective of such an integration? Solutions differ. Pyth, in asserting the partnership with the U.S. authorities, hailed it as a step in the direction of “increas[ing] confidence in public data methods” by information transparency.
Chainlink extra particularly celebrated the methods by which U.S. authorities information will now be capable of be used to gasoline and help DeFi exercise. The corporate mentioned Thursday the verified information will quickly help associated prediction markets, encourage the event of latest varieties of crypto belongings, and enhance the adaptability of tokenized belongings, amongst different use circumstances.
The Division of Commerce didn’t instantly reply when requested by Decrypt what tangible advantages its new on-chain initiative will provide the federal authorities, versus different means of information publication.
“It’s solely becoming that the Commerce Division and President Donald Trump, the ‘crypto-president,’ publicly launch financial statistical information on the blockchain,” Commerce Secretary Lutnick mentioned immediately in an announcement. “We’re making America’s financial fact immutable and globally accessible like by no means earlier than, cementing our position because the blockchain capital of the world.”
The businesses concerned in immediately’s announcement have already benefited mightily from it. Pyth’s native token, PYTH, exploded by some 69% in worth inside minutes of the information breaking—a achieve price almost $1 billion, when it comes to the token’s absolutely diluted valuation.
Chainlink (LINK) popped a extra modest 7.6% to $25.82, earlier than settling again right down to $24.76 at writing. The worth achieve was nonetheless, given LINK’s worth, price over $1.8 billion. The token notably, nevertheless, has surged over 40% within the final month—a pump price over $7 billion.
Chainlink co-founder Sergey Nazarov has been a vocal supporter of the Trump administration’s crypto embrace this 12 months, and attended each a White Home crypto summit in March in addition to President Donald Trump’s signing of the stablecoin-focused GENIUS Act there final month.
“I simply need to specific my deep gratitude,” Nazarov advised Trump on the crypto summit, “for the seriousness with which you might be approaching our business.”
Editor’s word: This story was up to date with further particulars after publication.
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