Key Takeaways
- U.S. Commerce Department partners with Pyth Network to publish GDP data on the blockchain, marking a major milestone in federal crypto adoption.
- Pyth provides verifiable, tamper-resistant data infrastructure across 100+ blockchains and 600+ applications, using a staking-based model to reinforce security and trust.
- Secretary of Commerce Howard Lutnick revealed the initiative during a White House meeting, Framing it as a landmark move under “the crypto president.”
- PYTH token rallies 60% on government integration news, with the price hitting $0.1883 as investors welcomed a rare federal endorsement of a blockchain oracle.
The U.S. Department of Commerce has partnered with blockchain oracle provider Pyth Network to distribute official economic data on-chain, marking a significant step in the government’s adoption of blockchain technology.
According to the announcement, Pyth will initially publish quarterly GDP data going back five years on-chain, using its decentralized oracle system to ensure the information is cryptographically verifiable and publicly accessible.
The chosen infrastructure reportedly spans over 100 blockchains, supports 600+ applications, and leverages a unique staking model to publish data that is transparent and tamper-resistant.
“The integrity of economic data is essential to global markets,” the company said, noting that on-chain publication “opens up new frontiers for transparency, accessibility, and composability across DeFi, enterprise use cases, and public accountability.”
While the Department of Commerce has not issued a formal statement on the initiative, Secretary Lutnick previewed the project during a White House cabinet meeting on Tuesday. Addressing President Donald Trump and other senior officials, he said:
The Department of Commerce is going to start issuing its statistics on the blockchain, because you are the crypto president, and we are going to put our GDP on the blockchain so people can use it for data and distribution.
PYTH Token Soars 60% on U.S. Government News
The announcement sent PYTH token prices sharply higher, with the coin surging over 60% in 24 hours to trade at $0.1883, up from around $0.117 before the news broke. Trading volumes spiked, and the price briefly touched above $0.20, marking its highest level since mid-May.
The sharp rally reflects investor enthusiasm over Pyth Network’s formal integration into U.S. government infrastructure, which is considered a regulatory milestone for a crypto project.
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