Bitcoin News Today: Trump Admin Makes Economic Truth Unchangeable with Blockchain Push
The U.S. government has begun publishing key economic data, including quarterly gross domestic product (GDP) figures, on public blockchains, signaling a significant endorsement of blockchain technology by the Trump administration. The initiative, announced on July 30, 2025, involved distributing a cryptographic hash of the GDP data across nine major blockchains, including Bitcoin , Ethereum , and Solana , as well as through oracle services such as Pyth and Chainlink . This move creates an additional channel for disseminating critical economic data without replacing existing traditional methods, according to officials from the U.S. Department of Commerce [1].
The Bureau of Economic Analysis, housed within the Department of Commerce, released the GDP data in PDF format, while the blockchain initiative primarily involved posting hashes—digital fingerprints that verify the authenticity and immutability of the data. The action is part of a broader effort to make government economic statistics more accessible globally and to support real-time market participation [2]. Commerce Secretary Howard Lutnick emphasized the significance of the move, stating that the U.S. is “making economic truth immutable and globally accessible like never before,” and positioning the nation as the “blockchain capital of the world” [3].
The initiative aligns with the Trump administration’s strong support for the crypto industry, which has included the creation of a U.S. Bitcoin reserve, the appointment of crypto-friendly regulators, and the signing of legislation regulating stablecoins. Lutnick, a vocal advocate for blockchain, has also proposed altering GDP reporting methods to remove the influence of government spending, a move that could further reshape how economic performance is measured [1].
The blockchain rollout follows a broader shift in U.S. economic policy under Trump, contrasting with the more cautious stance taken by the previous administration toward digital assets. While the Biden administration imposed restrictions and focused on regulatory oversight, the Trump administration has actively integrated blockchain into government operations. The move has already had market implications: the token associated with the Pyth Network, Pyth, surged nearly 61% in 24 hours following the announcement [1].
The initiative is seen as a symbolic endorsement of blockchain’s reliability and transparency, particularly for financial data that is critical for global markets. By leveraging public blockchains, the U.S. government is not only enhancing data accessibility but also reinforcing trust in the integrity of its economic statistics. Officials have indicated that the program will expand to include additional datasets and blockchains in the future, further embedding crypto technology into the fabric of U.S. economic reporting [3].
