Trump Turns Blockchain into Government Goldmine, PYTH Token Rockets 🚀💰

by

Ah, the sweet scent of government-approved blockchain-*who would’ve thought?* Thursday witnessed a rather curious and wild twist of fate, as the Pyth Network’s native token, the PYTH, decided to blast off like a space shuttle post-ignition. And who, you ask, is behind this chaotic ascent? Why, none other than the United States Department of Commerce, who has selected this marvel of blockchain technology to verify and distribute *official* economic data onchain. It’s like inviting your quirky aunt to oversee your wedding vows-unexpected, yet oddly fitting. 🍾

And just like that, PYTH’s value surged past the $0.20 mark-peaking at over 70% in one day. By the time the dust settled, it was still hovering just below $0.19, sporting a proud 62% increase. I mean, can you even? 😎

This *unbelievable* rally pushed PYTH to its highest point since February, slapping its market cap with a shiny $1 billion tag, while trading volumes shot up by a jaw-dropping 2,700% in just 24 hours. We’re talking about a straight-up rollercoaster ride with no seatbelts. 🎢

Now, here’s the kicker-PYTH wasn’t the only player in this exhilarating game. The Department of Commerce also confirmed that *quarterly GDP figures* would be published across nine blockchain networks, including heavyweights like Bitcoin, Ethereum, Solana, Tron, Stellar, and Avalanche. And don’t forget Chainlink, because it’s also in the mix as a “key oracle partner” for spreading that sweet, sweet government data. But let’s be honest-Pyth and Chainlink? They’re the dynamic duo that’ll ensure the government’s numbers are spread far and wide, safely and securely. Cue dramatic music. 🎼

Pyth Network isn’t just your average blockchain token, mind you. Oh no. It’s a *decentralized oracle* system designed to pump real-time financial market data straight onto blockchains. Think of it like your financial news feed, but only cooler and more cryptic. Much like Chainlink, Pyth provides that all-important infrastructure to get offchain data, such as stock prices and foreign exchange rates, onto the blockchain for all those *decentralized finance* applications. 🧐

Trump’s Pro-Crypto Love Affair: A Match Made in Blockchain Heaven

Meanwhile, President Trump, in what can only be described as a “bold move,” has embraced blockchain technology with the enthusiasm of a dog chasing a squirrel. This, of course, comes amidst some very public and *very* spicy criticisms of official government statistics. His favorite punching bag? The Bureau of Labor Statistics, specifically its employment market data, which Trump has called “rigged” for political purposes. Talk about stirring the pot. 🍲

Things really heated up when Trump fired BLS Commissioner Erika McEntarfer-apparently, her stats just weren’t up to snuff. Talk about an office drama that even Netflix couldn’t script. 🔥

In case you thought that was it, Trump’s blockchain love affair continues. His administration’s agenda is all about digital assets, and guess what? The GENIUS Stablecoin Act just passed. Oh, and the House of Representatives is also busy with a market structure bill and a rather *heated* anti-CBDC bill now heading to the Senate. So, you know, nothing major. 😏

As a cherry on top of this crypto-fueled sundae, Trump has presided over a *pro-crypto* Securities and Exchange Commission (SEC). Multiple crypto ETFs? Approved. Clarified liquid staking activities? Not considered securities. It’s basically a crypto wonderland, and we’re all just living in it. 🏰

Read More

2025-08-28 20:06