The U.S. government has selected blockchain oracle providers Chainlink and Pyth Network to publish official economic indicators directly on public blockchains. The move is pitched as part of a transparency initiative under the Trump administration to make the government spending and data more accessible.
It is the first time federal economic data will be streamed via decentralized networks, a step officials said could reduce data manipulation risks and give markets faster, tamper-resistant access to key statistics.
Chainlink said it will provide data feeds from the Bureau of Economic Analysis (BEA), including real gross domestic product (GDP), the personal consumption expenditures (PCE) price index, and real final sales to private domestic purchasers. A spokesperson told Cointelegraph the company could also add additional datasets if requested by federal agencies or market participants.
The BEA reported U.S. GDP at an annualized $28.3 trillion in the second quarter of 2025, while the PCE price index — the Federal Reserve’s preferred inflation gauge — rose 2.5% year-on-year. These will now be available directly to blockchain applications without intermediaries.
The Department of Commerce separately tapped Pyth to publish GDP figures onchain, marking the first time such core economic statistics will be distributed in real time through decentralized networks. Pyth, which was spun out of Jump Trading and is now backed by more than 100 institutional publishers, already delivers price feeds for equities, commodities and cryptocurrencies across Solana, Ethereum, and 50 other blockchains. Its oracles secure more than $2 billion in total value across decentralized finance protocols.
Bringing government macroeconomic data onchain is intended to broaden transparency and improve accountability, while also creating new opportunities for crypto markets. Chainlink said the initiative could enable automated trading strategies, prediction markets, and risk management tools for decentralized finance protocols.
Stablecoins, tokenized government bonds and other blockchain-based financial products that rely on economic benchmarks are also expected to benefit. Analysts at Galaxy Research noted that automated stablecoin supply adjustments and smart-contract-based lending rates could directly reference BEA data, reducing reliance on third-party aggregators.
The initiative mirrors proposals in other jurisdictions. Lawmakers in the Philippines, United Kingdom and El Salvador are considering measures to put budget data and macroeconomic indicators onchain. The UK’s Treasury held consultations in mid-2024 on whether to publish inflation and labor market data through digital ledgers, while El Salvador has floated the idea of using blockchain-based fiscal reporting to support its Bitcoin-driven financial ecosystem.
The price of Pyth’s PYTH token shot higher nearly 70% following the announcement, while Chainlink’s LINK token gained more than 3% before easing back to trade around $25. LINK has risen about 61% since early August, climbing from $15.43 to current levels.
PYTH, meanwhile, has a market capitalization of about $1.1 billion, according to CoinGecko, while LINK remains one of the largest crypto assets with a market value near $14 billion. Traders on Binance and Coinbase reported a sharp uptick in volumes, with more than $2.3 billion in LINK changing hands in 24 hours after the news.
