US Commerce Secretary Howard Lutnick announced on Tuesday, August 26, 2025, that the Department of Commerce will begin issuing economic data, including GDP statistics, on the blockchain, as part of the Trump administration's push to embrace cryptocurrency and blockchain technology. Lutnick made the declaration during a cabinet meeting, directly addressing President Donald Trump and framing the move as an effort to enhance transparency and reduce fraud in government reporting.
The initiative is supported by the Deploying American Blockchains Act of 2025, which aims to modernize data distribution across federal agencies. Lutnick suggested that this could extend beyond the Commerce Department to the entire U.S. government, though he did not specify which blockchain network would be used or how it would improve upon existing public data releases. The Commerce Department has not yet provided further details on the implementation.
Lutnick, who is also the CEO of Cantor Fitzgerald, has strong ties to the crypto industry, including connections to Tether (USDT) and ongoing explorations of a multi-billion dollar Bitcoin acquisition. The move is expected to increase trust in economic statistics among market participants and institutional investors, with potential impacts on blockchain infrastructure demand, which reached $19 billion in spending in 2024. Historical context shows that similar vague blockchain announcements in the past, like those in 2018, were often marketing tropes, but this federal initiative could set a precedent for non-speculative utility in government operations.