Bitcoin
Jack Dorsey’s Bitchat: A Game-Changing Decentralized Messaging App
Billionaire tech innovator Jack Dorsey, co-founder of Twitter and CEO of Block, has launched Bitchat, a revolutionary decentralized messaging app that’s already making waves. Unveiled on July 6, 2025, and available in beta on Apple’s TestFlight, Bitchat operates entirely over Bluetooth mesh networks, requiring no internet, servers, phone numbers, or emails. This peer-to-peer platform ensures secure, encrypted communication, making it resilient to censorship and network outages.
What sets Bitchat apart is its ability to facilitate off-grid communication and, remarkably, Bitcoin transactions. Users are already sending #Bitcoin via Bluetooth, showcasing the app’s potential to redefine financial sovereignty and privacy. With end-to-end encryption using Curve25519 and AES-GCM, messages are ephemeral—deleted after 12 hours unless marked as favorites—and stored only on devices, not centralized servers.
Dorsey, a long-time Bitcoin advocate, described Bitchat as a “weekend project” to explore Bluetooth mesh networks and encryption models, evoking “IRC vibes.” The app’s design aligns with his vision of decentralizing technology, following his work on Bluesky and Nostr. Despite some sources suggesting no direct Bitcoin connection, posts on X highlight users successfully transferring Bitcoin, signaling a bold step toward a censorship-resistant, decentralized future.
Bitchat’s launch is a win for freedom and innovation. As Dorsey continues to champion privacy and autonomy, this app could reshape how we communicate and transact in a connected world. For more details, check the whitepaper on GitHub or join the beta on TestFlight.
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Trump Media & Technology Group (DJT), the parent company of Truth Social, has moved to unwind key partnerships with Crypto.com, including a proposed crypto treasury strategy centered on the CRO token and related prediction-market collaboration. The companies mutually agreed to terminate plans for Trump Media Group CRO Strategy, a publicly traded vehicle intended to accumulate and stake CRO, citing prevailing market conditions and shifting business and stakeholder priorities.
The parties also stepped back from a broader services arrangement under which Crypto.com would have supported certain planned ETF offerings, as well as plans to integrate prediction markets directly into the Truth Social platform. Existing Truth Social-branded funds will continue. Interim CEO Kevin McGurn framed the decision as a strategic pivot toward the company’s media licensing initiatives and its pending merger with fusion-energy firm TAE Technologies.
Separately, recent disclosures revealed substantial crypto-related losses. Trump Media recorded approximately $360.6 million in losses on digital assets and related holdings during the first half of 2026, largely unrealized or mark-to-market impacts driven by declines in Bitcoin and CRO prices. The company’s second-quarter net loss reached about $238 million, with unrealized writedowns on crypto and equity positions accounting for the bulk of the shortfall. Bitcoin holdings stood at roughly 9,477 BTC as of June 30 (fair value around $557 million), down modestly from earlier levels in the year, while CRO holdings remained at approximately 756 million tokens (marked down in value). Some subsequent activity in July adjusted the Bitcoin position higher through sales of related securities and direct purchases.
Impact: The unwind and reported losses illustrate the challenges of corporate crypto treasury strategies during prolonged drawdowns and the rapid shift in priorities that can occur when market conditions and corporate focus evolve. Trump Media’s retreat from expansive token-accumulation plans underscores how even high-profile entrants can reassess exposure when volatility weighs on balance sheets and alternative growth paths emerge.
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