Howard Lutnick, who used to be the CEO of Cantor Fitzgerald and is now the US Secretary of Commerce, has announced that he wants to put GDP on the blockchain.

Speaking at a cabinet meeting to President Donald Trump on August 26, Lutnick said:

“The Department of Commerce is going to start issuing its statistics on the blockchain, because you are the crypto president, and we are going to put out GDP on the blockchain so people can use the blockchain for data distribution.”

???????? JUST IN: The US Government will begin publishing economic data on the blockchain, aiming to boost transparency and trust in official numbers. #Trump #Blockchain #EconomicData #Transparency pic.twitter.com/bSs4iqJ8jV

— Roundtable Network (@RTB_io) August 26, 2025

\\"We're just ironing out all the details so we can do it,\\" he said, adding that the data would be shared among all government departments. The project is still being worked on, but it is being marketed as a ground-breaking way to update economic reports and make global markets more open.

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Lutnick has taken numerous stances in favor of cryptocurrencies over the years – he has compared Bitcoin to gold, defended Tether's reserves, and effectively dismissed arguments about the implications of stablecoins and Tether for illicit funding during his Senate confirmation hearing.

On April 28, when President Donald Trump held a rally in Michigan to honor his first 100 days in office, Lutnick commended Trump.

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Lutnick had further said that working with White House crypto  and AI czar David Sacks made the rollout possible. He said that they were able to help the President deliver the Bitcoin strategic reserve.

He also discussed the importance of classifying Bitcoin as a commodity. He told Bitcoin Magazine, “Once you embrace the concept of commodity, you’ll see how beautiful that is.\\"

This story was originally reported by TheStreet on Aug 26, 2025, where it first appeared in the Policy section. Add TheStreet as a Preferred Source by clicking here.