-
Back to menu
Prices
-
Back to menu
-
Back to menu
Indices -
Back to menu
Research
-
Back to menu
Events -
Back to menu
Sponsored
-
Back to menu
Videos -
Back to menu
-
Back to menu
-
Back to menu
Webinars
Select Language
By Jesse Hamilton|Edited by Aoyon Ashraf
Aug 28, 2025, 3:28 p.m.
- The U.S. Department of Commerce is testing the waters for the release of major federal economic data through blockchains, releasing its gross domestic product numbers via nine of them on Thursday.
- Secretary of Commerce Howard Lutnick praised President Donald Trump’s leadership on the technology and said this move should help cement the U.S. as the global leader.
The U.S. government has begun using blockchains to disseminate key economic data, starting with the U.S. Department of Commerce’s release of gross-domestic product (GDP) numbers on Thursday, which was described as a “proof of concept” for doing more of this in the future.
STORY CONTINUES BELOW
“We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world,” said Secretary of Commerce Howard Lutnick, in a statement that announced the new approach to spinning out government data.
In a deliberate effort not to pick blockchain favorites, the department put out Thursday’s data via Bitcoin, Ethereum, Solana, TRON, Stellar, Avalanche, Arbitrum One. Polygon PoS and Optimism, identifying the transaction hashes for each in its announcement. The agency said that it also sent the data through Chainlink and Pyth and noted that exchanges Coinbase, Gemini and Kraken helped out.
The July GDP data, compiled by the Bureau of Economic Analysis, was posted as a PDF file.
Lutnick’s department credited President Donald Trump’s fostering of crypto and blockchain technology with what it described as a “landmark effort.”
The U.S. government issues a number of economic reports on a routine basis that have tremendous weight with the financial markets, including the Department of Labor’s jobs report and the consumer price index.
According to its statement, the Commerce Department “will continue to innovate and broaden the scope of publishing future datasets like GDP to include the use of other blockchains, oracles, and exchanges.”
Read more: Chainlink and Pyth Selected to Deliver U.S. Economic Data on Blockchain
Jesse Hamilton is CoinDesk’s deputy managing editor on the Global Policy and Regulation team, based in Washington, D.C. Before joining CoinDesk in 2022, he worked for more than a decade covering Wall Street regulation at Bloomberg News and Businessweek, writing about the early whisperings among federal agencies trying to decide what to do about crypto. He’s won several national honors in his reporting career, including from his time as a war correspondent in Iraq and as a police reporter for newspapers. Jesse is a graduate of Western Washington University, where he studied journalism and history. He has no crypto holdings.
More For You
By Jesse Hamilton|Edited by Aoyon Ashraf
Aug 27, 2025
Lobbyists and firms such as Coinbase, Kraken and Ripple told key senators the sector can’t support a market structure bill without software developer protection.
What to know:
- U.S. crypto lobbyists are insisting that if Congress doesn’t protect software developers in its market structure bill, the industry can’t get behind it.
- This legislation has been the sector’s top U.S. priority for years, but the industry is growing nervous that the Clarity Act’s developer protections may not get extended to the Senate’s version.
- More than a hundred companies and lobbying organizations signed on to the letter to relevant senators, described as the “largest crypto advocacy coalition in history.”
