U.S. Government Partners with Pyth Network to Publish Economic Data On-chain
KEY FACTS: The U.S. Department of Commerce has partnered with Pyth Network and Chainlink to publish official economic data, starting with GDP, on-chain across nine blockchain networks, including Bitcoin, Ethereum, and Solana, marking a historic first for the U.S. government. This initiative, led by Secretary Howard Lutnick under the Trump administration, aims to enhance the transparency and accessibility of economic statistics using blockchain’s cryptographic verifiability. Pyth Network, a decentralized oracle protocol serving over 100 blockchains and 600+ applications, will verify and distribute the data, leveraging its infrastructure to support DeFi and enterprise use cases. The announcement triggered a 70% surge in the PYTH token, with trading volumes rising over 2,700%.
Sources: Pyth Network
U.S. Government Partners with Pyth Network to Publish Economic Data On-chain
The U.S. Department of Commerce has selected Pyth Network as a key partner to verify and distribute official economic data on-chain, a historic first for the U.S. government. Announced on August 28, 2025, this initiative, in collaboration with blockchain oracle provider Chainlink, positions Pyth Network at the forefront of a transformative effort to enhance transparency, accessibility, and trust in the publication of critical economic statistics, such as Gross Domestic Product (GDP). The announcement sent the native PYTH token soaring by nearly 70%, underscoring the market’s enthusiasm for this unprecedented government embrace of decentralized infrastructure.
The U.S. Department of Commerce has selected Pyth Network to verify & distribute economic data onchain.
Today’s announcement by Howard Lutnick & Donald Trump marks a landmark step for the adoption of decentralization & validates Pyth’s role as a trusted data source
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The U.S. Department of Commerce, led by Secretary Howard Lutnick, has embarked on a pioneering project to publish key economic indicators, starting with GDP data, directly onto blockchain networks. This initiative aims to make official statistics immutable, transparent, and globally accessible by leveraging the cryptographic verifiability of blockchain technology. By moving away from traditional, centralized systems that can be prone to opacity or manipulation, the Department is modernizing how economic data is shared, marking a “critical step forward in the public sector’s embrace of decentralized infrastructure,” as stated by Pyth Network.
Pyth Network, a decentralized oracle protocol launched in 2021 on Solana, is designed to deliver real-time, high-quality financial market data to blockchain applications. It provides infrastructure to bring off-chain data, such as stock prices, foreign exchange rates, and commodities, on-chain for use in decentralized finance (DeFi) applications. With over 100 blockchains and more than 600 applications relying on its data feeds, Pyth’s selection by the Department of Commerce highlights its reputation as a “source of truth” for on-chain data. The network’s ability to deliver low-latency, cryptographically verifiable data from trusted sources, including major exchanges like Binance, OKX, and Bybit, as well as traditional financial institutions like Jane Street and Cboe Global Markets, has made it a cornerstone of the DeFi ecosystem.
The initiative will initially focus on publishing quarterly GDP data for the past five years, with plans to expand to a broader range of economic datasets. The data will be distributed across nine blockchain networks, including Bitcoin, Ethereum, Solana, TRON, Stellar, Avalanche, Arbitrum One, Polygon PoS, and Optimism, with additional networks like Base, Botanix, Linea, Mantle, Sonic, and ZKsync also mentioned in related announcements by Chainlink. This move is expected to unlock new possibilities for DeFi, enterprise applications, and public accountability by making official statistics readily available to developers and users worldwide.
The collaboration between Pyth Network and the U.S. Department of Commerce is not a one-off data release but the foundation for a long-term strategic partnership. According to Mike Cahill, founder of Douro Labs and a core contributor to Pyth, the initiative reflects months of close engagement with the Department and Secretary Lutnick. The partnership is part of the Trump administration’s broader strategy to integrate blockchain technology into public infrastructure, to position the U.S. as the “blockchain capital of the world.” This move comes amid sharp criticism of official government statistics, particularly employment data published by the Bureau of Labor Statistics (BLS). Earlier in August 2025, a major downward revision of employment numbers prompted President Trump to claim the figures were “rigged” for political purposes, leading to the dismissal of BLS Commissioner Erika McEntarfer.
The U.S. Department of Commerce, through its Bureau of Economic Analysis (BEA), has already begun publishing six macroeconomic indicators, including GDP, inflation, and domestic demand, using Chainlink’s data feeds, with Pyth playing a central role in GDP data verification and distribution. The initiative aligns with global trends, as countries like the Philippines, the United Kingdom, and El Salvador are exploring similar proposals to bring public spending data and macroeconomic figures on-chain.
The decision to bring economic data on-chain has profound implications for both traditional finance and the DeFi ecosystem. The publishing of verified data on blockchain networks by the U.S. government will open up a new wave of efficiency, transparency, and composability. Smart contracts, which rely on accurate and timely data to execute automated transactions, will benefit from Pyth’s ability to provide cryptographically verifiable economic statistics. This opens the door to innovative use cases, such as lending protocols that adjust interest rates based on GDP trends, prediction markets that incorporate the Personal Consumption Expenditures (PCE) Price Index to crowdsource inflation forecasts, and transparent dashboards powered by immutable data for enhanced public accountability.
Pyth’s infrastructure is uniquely suited to support these applications. The network aggregates data from over 90 trusted providers, including major exchanges and traditional financial institutions, and employs a staking mechanism to enhance security. The publishing of price feeds with confidence intervals on Pyth will ensure a level of transparency and reliability critical for financial applications. Its permissionless model allows any application to access its price feeds without needing explicit approval, fostering innovation across DeFi and beyond.
The announcement of Pyth’s partnership with the U.S. Department of Commerce triggered a massive market response, with the native PYTH token surging by as much as 70% on August 28, 2025. According to CoinMarketCap, the token peaked just above $0.20, marking its highest level since February 2025 and pushing its market capitalization above $1 billion. Trading volumes skyrocketed by over 2,700% in the 24 hours following the announcement, reflecting intense investor enthusiasm. Although the token later settled just below $0.19, it remained up approximately 62% for the day, signaling strong market confidence in Pyth’s future.
The rally was driven by the significance of the partnership, which analysts view as a “validation moment” for Pyth Network. The government’s endorsement not only legitimizes Pyth’s infrastructure but also positions it as a critical player in the integration of decentralized networks with public institutions. Prevailing sentiments suggest that PYTH could recover to its 2024 all-time highs above $1, driven by increased institutional demand and the potential for expanded use cases. However, the token remains 84% below its March 2024 peak of $1.2, according to CoinGecko data, indicating room for growth if demand continues to rise.
The partnership comes at a time of evolving regulatory attitudes in Washington. The Trump administration’s embrace of blockchain technology follows years of tension in the crypto industry, including prosecutions of software developers and disputes over official government statistics. Recent developments, such as the Justice Department’s clarification that “writing code is not a crime” and the dismissal of BLS Commissioner Erika McEntarfer amid employment data controversies, suggest a broader pivot toward blockchain as a tool for financial modernization. Additionally, SEC Chair Paul Atkins’ shift toward clearer crypto regulations through “Project Crypto” and Federal Reserve official Michelle Bowman’s call for staff to hold small amounts of crypto to improve oversight reflect a growing acceptance of decentralized technologies.
The collaboration between Pyth Network and the U.S. Department of Commerce is a watershed moment for blockchain technology, signaling its arrival as a mainstream tool for government and financial systems. By bringing economic data on-chain, the initiative paves the way for a new era of transparency, efficiency, and innovation. As Pyth Network continues to build on this partnership, it has the potential to redefine how businesses, governments, and individuals interact with economic data, fostering a more connected and decentralized financial ecosystem.
Secretary Lutnick described the initiative as “just the first step in a long and high-yielding endeavor to rebuild the data infrastructure of the United States of America.” With Pyth Network at the forefront, delivering real-time, cryptographically verifiable data to over 100 blockchains and 600+ applications, the future of on-chain economic data looks brighter than ever, promising a revolution in how we understand and engage with the global economy.
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