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- Chainlink collaborated with the U.S. SEC Crypto Task Force to reinforce the compliance and infrastructure role, and was recently highlighted in a White House report.
- The Foundation also announced growing its LINK reserves to 193,076 coins, as the price rallied by 32% over the past month.
Oracle services provider Chainlink announced a collaboration with the United States Department of Commerce to bring official U.S. macroeconomic data on-chain on Thursday, August 28. The initiative enables secure delivery of critical economic indicators through Chainlink Data Feeds, sourced directly from the Bureau of Economic Analysis (BEA).
This is the second major collaboration of the Chainlink platform, after joining hands with Japan’s SBI Holdings, as reported by CNF.
Leveraging the Chainlink News Feed for Economic Data
The new feeds will provide blockchain access to key metrics such as Real Gross Domestic Product (GDP), Personal Consumption Expenditures (PCE) Price Index, and Real Final Sales to Private Domestic Purchasers. As per Chainlink, this integration will enhance transparency and reliability in decentralized finance (DeFi) applications, while getting the real-world economic data to smart contracts.
Chainlink believes that getting US government data on-chain will unlock innovative use cases such as automated trading strategies, increased composability of tokenized assets, real-time prediction markets, issuance of new types of digital assets, DeFi protocol risk management, and much more.
The datasets will be updated on a monthly or quarterly basis, depending on the metric, and are initially available across ten blockchain networks, including Arbitrum, Avalanche, Base, Botanix, Ethereum, Linea, Mantle, Optimism, Sonic, and ZKsync.Besides, Chainlink also plans to introduce additional network support in the future.
On Thursday, Chainlink also collaborated with the U.S. SEC Crypto Task Force to emphasize the significance of compliance frameworks, showcasing how Chainlink ACE integrates compliance logic directly into on-chain infrastructure.
In July, the White House released a report from the President’s Working Group on Digital Asset Markets, underscoring Chainlink’s role as critical infrastructure for supporting stablecoins, tokenized funds, and the broader on-chain economy.
The LINK Reserve Update
After the Chainlink Foundation announced its strategic LINK reserve plan earlier this month, the Foundation is now doubling down on it. In its latest update on August 28, the Foundation announced that its reserve has accumulated 42,298.22 LINK today, bringing the total holdings to 193,076 LINK.
The Chainlink Reserve is aimed at supporting the long-term growth and sustainability of the Chainlink Network. It achieves this by accumulating LINK through off-chain revenue generated from large enterprise adoption of Chainlink, as well as on-chain revenue from service usage.
The LINK price saw strong upside with 32% gains over the past month, rallying all the way to $30 earlier this month. LINK has rebounded from an ascending trendline dating back to August 6, gaining 4% and moving above the 14-day Exponential Moving Average (EMA).
If bullish momentum continues, the oracle token could target the $30.8 psychological level, provided it breaks through resistance at $27.4. Conversely, a drop below the ascending trendline support may push LINK down toward $21.3.
