{"id":118841,"date":"2025-08-29T16:53:16","date_gmt":"2025-08-29T16:53:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/118841\/"},"modified":"2025-08-29T16:53:16","modified_gmt":"2025-08-29T16:53:16","slug":"the-us-just-put-gdp-on-chain","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/118841\/","title":{"rendered":"The US Just Put GDP On-Chain"},"content":{"rendered":"\n

Morning Minute is a daily newsletter written by\u00a0Tyler Warner<\/a>. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute\u00a0on Substack<\/a>.<\/p>\n

GM!<\/p>\n

Today’s top news:<\/p>\n

Crypto majors deep red down 3-6% ahead of PCE; BTC at $110,000<\/p>\n

U.S. Commerce Dept begins publishing GDP data to blockchain with ChainLink and Pyth support<\/p>\n

CTFC clears way for offshore crypto protocols to embrace U.S. users<\/p>\n

Trump family\u2019s American Bitcoin plans for September IPO<\/p>\n

COPE runs 100x in just over a day, leading on-chain meme runners<\/p>\n

A major U.S. agency has pushed core macro data on-chain.<\/p>\n

And it opens a brand-new lane for crypto markets.<\/p>\n

The Commerce Department\u00a0began publishing official economic stats<\/a>\u00a0on blockchains and tapped oracle<\/a> providers Chainlink<\/a> and Pyth to distribute the data for smart contract<\/a> use.<\/p>\n

The initial rollout includes multiple networks, with Chainlink feeds already live.<\/p>\n

For a quick overview of the details:<\/p>\n

Data types going on-chain: Real GDP (level and QoQ annualized %), PCE Price Index (level and QoQ annualized %), and Real Final Sales to Private Domestic Purchasers (level and QoQ annualized %)<\/p>\n

Frequency: Updates arrive monthly or quarterly as applicable<\/p>\n

Where it\u2019s publishing first (Chainlink feeds): Arbitrum, Avalanche, Base, Botanix, Ethereum, Linea, Mantle, Optimism, Sonic, ZKsync, with support expanding based on demand<\/p>\n

Pyth\u2019s role: Verify and distribute GDP releases, initially providing quarterly series with historical backfill<\/p>\n

The market loved the news with\u00a0PYTH\u00a0ripping roughly\u00a0100% on the announcement, and LINK popping 5-8% (before retracing).<\/p>\n

\"PYTH PYTH absolutely soars on the news it will help power on-chain GDP data <\/p>\n

\u201cThe Department of Commerce is going to start issuing its statistics on the blockchain\u2026 and we\u2019re going to put out GDP on the blockchain, so people can use the blockchain for data distribution.\u201d\u00a0– Commerce Secretary Howard Lutnick.<\/p>\n

There is a whole lot to unpack here, but it\u2019s all incredibly bullish.<\/p>\n

From a government perspective, posting official numbers on public chains makes them tamper-evident and instantly checkable by anyone. That boosts confidence in the data (and trust).<\/p>\n

From a data integration perspective, smart contracts\u00a0can now react to GDP or PCE in real time. Think GDP-linked payouts, on-chain hedges, auto-rebalancing funds, and cleaner prediction markets that settle on official, immutable feeds.<\/p>\n

Story Continues <\/p>\n

From a crypto perspective, we now have a federal agency using crypto oracles to publish official numbers – signaling crypto infrastructure is crossing into mainstream.<\/p>\n

This is a watershed moment for crypto.<\/p>\n

The biggest players in the world are beginning to use blockchains for one of their native intended purposes (transparency & decentralization).<\/p>\n

The U.S. government is a winner here (efficiency gains), the U.S. people are a winner here (more transparency), LINK and PYTH are direct winners here (showing their utility) and so is the broader crypto space (more adoption and credibility).<\/p>\n

Are you tired of winning yet?<\/p>\n

A few Crypto and Web3 headlines that caught my eye:<\/p>\n

Crypto majors\u00a0were deep red ahead of PCE data;\u00a0<\/a>BTC -2.5% at $110,000, ETH -6% at $4,340, XRP -4% at $2.87, SOL -3% at $208<\/p>\n

PYTH\u00a0(+98%) and PUMP led top movers<\/p>\n

ETH ETFs\u00a0continued their green streak<\/a>\u00a0with $39.1M in net inflows (lowest in 6 sessions), while BTC saw $178.9M in net inflows<\/p>\n

The U.S. Commerce Dept\u00a0has begun publishing GDP<\/a>\u00a0data on Bitcoin, Ethereum, Solana and more, with oracle feeds via Chainlink and Pyth (+98%)<\/p>\n

The CFTC\u00a0clarified a path for offshore crypto venues to serve U.S. users<\/a>, paving the way for use of protocols like Binance<\/p>\n

JPMorgan\u00a0said BTC is undervalued vs gold<\/a>\u00a0as volatility hits record lows<\/p>\n

USDT\u00a0is coming to Bitcoin<\/a>\u00a0via RGB layer-2, enabling native USD-stable transactions on BTC<\/p>\n

In Corporate Treasuries<\/p>\n

In Memes<\/p>\n

Memecoin leaders\u00a0are red on the day;\u00a0<\/a>DOGE -4%, Shiba -3%, PEPE -4%, PENGU -5%, BONK -4%, TRUMP -2%, SPX -11%, and FARTCOIN -5%<\/p>\n

COPE\u00a0was the top on-chain SOL runner of the day, running to 800% to $15M at peak (now $10M)<\/p>\n

Here’s a rundown of major token, protocol and airdrop news from the day:<\/p>\n

Solana\u00a0validators\u00a0commenced a vote on\u00a0<\/a>Alpenglow<\/a>\u00a0consensus upgrade targeting near-instant finality<\/p>\n

CyberKongz\u00a0announced<\/a>\u00a0that 2% of their upcoming KONG airdrop will go to OpenSea users with $10k+ volume since 2023<\/p>\n

Rabby Wallet\u00a0teased<\/a>\u00a0a Hyperliquid integration<\/p>\n

XPL\u00a0jumped 24%<\/a>\u00a0to $0.92 ($9.2B FDV) just 2 days after the short liquidation<\/p>\n

In raise news,\u00a0Portal to Bitcoin raised $50M to expand \u201cBitcoin-grade\u201d cross-chain trading stack; M0 closed a $40M Series B to scale stablecoin platform; Rain\u00a0raised $58M<\/a>\u00a0for Visa-linked stablecoin cards<\/p>\n

Section dedicated to headlines in the AI sector of crypto:<\/p>\n

Overall\u00a0market cap<\/a>\u00a0even at $13.2B, leaders were red<\/p>\n

FARTCOIN\u00a0(-5%), VIRTUAL (-4%), TIBBIR (-2%), aixbt (-2) & ai16z (-3%)<\/p>\n

GAMBLE (+70%), YOUSIM (+40%) and ANON (+21%) led top movers<\/p>\n

Here is the list of other notable headlines from the day in NFTs:<\/p>\n

ETH NFT leaders\u00a0were mixed<\/a>;\u00a0Punks +2% at 46.5 ETH, Pudgy -2% at 10.1, BAYC even at 9.7 ETH<\/p>\n

Sappy Seals (+28%) and VeeFriends (+14) were notable top movers<\/p>\n

Bitcoin NFTs\u00a0were mostly green again, led by Adderrels (+16%)<\/p>\n

Abstract NFTs\u00a0were mixed, led by Bearish (+15%)<\/p>\n","protected":false},"excerpt":{"rendered":"Morning Minute is a daily newsletter written by\u00a0Tyler Warner. The analysis and opinions expressed are his own and…\n","protected":false},"author":2,"featured_media":118842,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[76745,28,76742,76744,101,76743,39029],"class_list":["post-118841","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-american-bitcoin","tag-business","tag-commerce-dept","tag-data-integration","tag-economy","tag-gdp-data","tag-pce-price-index"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/118841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=118841"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/118841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/118842"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=118841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=118841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=118841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}