Crypto Videos

Pyth Network: The Bloomberg of Crypto? Ft. Mike Cahill

At Solana Breakpoint in Abu Dhabi, Pyth Network co‑founder Mike Cahill unveiled the latest phase of the project, highlighting the commercial rollout of Pyth Pro and the introduction of the Pyth Reserve mechanism. Pyth Pro, the on‑chain oracle’s premium data service, has already generated more than $1 million in annual recurring revenue within its first month, attracting 8‑10 institutional inquiries weekly and growing to roughly 80 active API subscribers. Pricing ranges from free tiers for developers to $10,000 per month for enterprise users, offering a cross‑asset catalog that is reportedly ten times cheaper than comparable enterprise solutions. Cahill cited the October 10 Binance pricing glitch as proof of Pyth’s superior price fidelity, noting that Pyth’s aggregated feeds priced USDE at 97 cents, avoiding the massive liquidations seen with Binance’s internal feed. He also mentioned collaborations with governments to publish GDP and payroll data on‑chain and ongoing discussions with the SEC to address market‑data gaps, while 90 % of Solana applications now rely on Pyth’s infrastructure. If Pyth can sustain its rapid subscriber growth and token‑buy‑back model, it could challenge Bloomberg’s dominance by delivering high‑quality, 24/7 market data at a fraction of the cost, opening new opportunities for hedge funds, retail brokers, and emerging asset classes worldwide.