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08/28/2025

US Government Puts Economic Data on the Blockchain via Chainlink and Pyth

The US government has announced plans to publish economic data directly onchain, partnering with two leading blockchain oracle providers — Chainlink ($LINK) and Pyth Network ($PYTH). The move aims to increase transparency in public spending and signals America's ambition to become the global "crypto capital." According to Chainlink, the platform will handle data transmission from the Bureau of Economic Analysis (BEA), covering: real Gross Domestic Product (GDP), the Personal Consumption Expenditures (PC

US Government Puts Economic Data on the Blockchain via Chainlink and Pyth

The US government has announced plans to publish economic data directly onchain, partnering with two leading blockchain oracle providers — Chainlink ($LINK) and Pyth Network ($PYTH). The move aims to increase transparency in public spending and signals America's ambition to become the global "crypto capital."

According to Chainlink, the platform will handle data transmission from the Bureau of Economic Analysis (BEA), covering: real Gross Domestic Product (GDP), the Personal Consumption Expenditures (PCE) price index, and final sales to private domestic purchasers. Chainlink has also indicated it is prepared to expand to additional data sources based on user demand or requests from the US government.

Meanwhile, Pyth Network was selected by the US Department of Commerce to publish GDP data — the measure of total economic output over a year — directly to the blockchain.

What This Means for the Crypto Market

Putting government macroeconomic data onchain doesn't just boost transparency in public governance — it also opens the door to a range of new applications in the crypto market:

  • Automated trading strategies can be triggered based on real economic data.
  • Prediction markets tied to macroeconomic movements become more accurate.
  • DeFi protocols gain more effective risk management tools.
  • Financial products such as stablecoins, tokenized government bonds, real-world assets (RWAs), and derivatives can all leverage this transparent data.

Market Impact

Following the announcement, PYTH surged nearly 70%, while LINK posted a gain of over 61% in August, climbing from $15.43 to approximately $25 per token.

This development could set a precedent for other countries — including the Philippines, the UK, and El Salvador — which are already exploring plans to put budget data and public economic indicators onchain.