Pi Network price continued its downward trend on Saturday as concerns about its centralization and token unlocks remained. Pi Coin (PI) dropped to $0.7040, down by over 57% from its highest point this week. This decline in a volume environment…

Pi Network price crashes as centralization risks persist

South Africa&#8217;s Garden Route, famed for its lush forests, expansive beaches and 
charming towns, has become a testbed for Bitcoin adoption.
From Mossel Bay to Witsand and Plettenberg Bay to Knysna, Bitcoin has become 
popular among shop owners and travelers alike for a multitude of reasons.
&#8220;We&#8217;re seeing the early signs of a parallel, permissionless economy emerging 
across an entire region,&#8221; James Caw, founder of SimplB &#8212; a local crypto asset 
provider &#8212; told Cointelegraph, &#8220;where small businesses benefit from faster, 
lower-cost digital payments and where people have more options to earn, send 
and receive sound money securely.&#8221;
For tourists, the benefits are immediate: no currency exchange hassles, no 
international card fees, and the ability to pay instantly and securely. For 
locals, Bitcoin (BTC) offers a hedge against inflation, protection from 
currency volatility and new economic opportunities.
Here&#8217;s a taste of what a Bitcoin-friendly trip along the Garden Route is like.
## The Garden Route is where Bitcoin meets paradise
The Garden Route is one of South Africa&#8217;s premier tourist corridors. It 
stretches roughly 300 kilometers from Mossel Bay in the west to the Storms 
River Mouth in the east, attracting hundreds of thousands of tourists yearly.
Crypto adoption is escalating thanks to South Africa&#8217;s regulatory environment, 
which now recognizes Bitcoin as a financial product. Across the Garden Route, 
you can spend pre-acquired Bitcoin freely, with little concern for local tax 
or exchange controls.
It&#8217;s a grassroots movement. Towns like Witsand and Plettenberg Bay are at the 
forefront, and national retailers like Pick n Pay provide a safety net for 
crypto spending along the way. Every Pick n Pay store, including supermarkets, 
clothing outlets and Express convenience stores, accepts Bitcoin via the 
CryptoQR app. This guarantees you can always buy daily goods with Bitcoin 
wherever you travel.
_**Related:**__**Stablecoin fever: 5 major stablecoins are growing crypto 
adoption**_
## Witsand is the Bitcoin village
Located at the mouth of the Breede River, Witsand is a sleepy coastal town 
with a big reputation in the Bitcoin world. Here, Bitcoin isn&#8217;t just accepted 
&#8212; it&#8217;s preferred.
It&#8217;s thanks to the efforts of local champions like Edwin Jones, a software 
engineer and passionate supporter of Bitcoin adoption in the Garden Route. 
Witsand has become a functioning Bitcoin circular economy. Accommodation 
options like Fantasea and Happy Days holiday homes, meals at Ellie&#8217;s on Main, 
groceries at local shops, gym memberships, boat services, petrol, surf lessons 
and mini-golf can be paid for using Bitcoin.
As Jones notes:
&gt; Bitcoin Witsand existed long before we gave it a name. It was just having 
&gt; conversations with friends, and as the local businesses started 
&gt; understanding Bitcoin, they actually demanded we start getting the 
&gt; technology in place.
The town&#8217;s small and close-knit community has enabled rapid adoption; more 
than 45 establishments accept Bitcoin as of early 2025. The town&#8217;s enthusiasm 
is infectious, as locals and visitors enjoy the ease and security of digital 
payments.
_Witsand proudly announces its acceptance of Bitcoin. Source: Edwin Jones_
Witsand&#8217;s success as a Bitcoin hub is rooted in its community-driven approach. 
Jones outlines its growth by outlining that:
&gt; Although there have been many individual businesses over the years since 
&gt; 2009 that started and stopped accepting Bitcoin for the Garden Route, the 
&gt; adoption really started kicking off in 2021.
&#8220;With the Lightning Network starting to reach maturity around that time, the 
first Spaza Shop in Mossel Bay, Bitcoin Ekasi, started accepting Bitcoin in 
August 2021, and the first restaurant in Witsand in December of the same 
year.&#8221;
Education has been central to the process. Local advocates have focused on 
teaching business owners the fundamentals of Bitcoin, warning against scams 
and emphasizing the difference between Bitcoin and speculative altcoins.
&#8220;With all the circular economies advocating against gambling and trading, 
cautioning against interest and investments, being explicitly Bitcoin, and 
focusing on the fundamentals rather than the price, scammers have been kept at 
bay,&#8221; Jones said. &#8220;We have also found that businesses don&#8217;t have to adapt as 
much as evolve.&#8221;
&gt; Bitcoin doesn&#8217;t change a business &#8212; it just supercharges it. Doing the same 
&gt; old things, much better.
## Mossel Bay&#8217;s surf and social upliftment
Mossel Bay, the historical gateway to the Garden Route, is not just about 
beaches and maritime history. Mossel Bay is home to Bitcoin Ekasi, a 
pioneering project that brought Bitcoin to the township of JCC Camp.
Bitcoin Ekasi empowers unbanked residents by enabling them to earn and spend 
Bitcoin locally. Coaches at The Surfer Kids nonprofit are paid in Bitcoin, and 
local spaza shops accept Bitcoin for daily necessities.
For the Bitcoiner tourist, Mossel Bay offers a unique opportunity for 
&#8220;conscious crypto-tourism.&#8221; You can take surf lessons from instructors paid in 
Bitcoin, visit the Bitcoin Ekasi education center, or support the project with 
direct donations.
The town also boasts a Pick n Pay that accepts Bitcoin. As SimplB&#8217;s Caw 
observes:
&gt; The Bitcoin Ekasi project first started when they began accepting Bitcoin 
&gt; because of the demand from foreign tourists visiting Mossel Bay. It is just 
&gt; so simple to function on a Bitcoin standard once you begin using it.
## Plettenberg Bay is the fastest-growing Bitcoin economy
Further east, Plettenberg Bay has witnessed an explosion in Bitcoin adoption. 
In just a few months, the number of Bitcoin-accepting merchants jumped from 
five to more than 75, making it one of Africa&#8217;s most dynamic crypto economies.
Confirmed acceptors include Ferris Cars (which facilitates rental 
accommodation payments in crypto), Glow Lighting Design and all local Pick n 
Pay branches. Adventure tourism companies, boutique retailers and professional 
services are increasingly receptive to Bitcoin, especially if you ask. The 
rapid growth suggests an enthusiastic local scene, with businesses eager to 
tap into the spending power of Bitcoin tourists.
_**Related:**__**8 major crypto firms announce US expansion this year**_
Plettenberg Bay offers a vibrant mix of beach life, nature and crypto-friendly 
commerce. The town&#8217;s energy is palpable, and visitors are encouraged to engage 
with merchants, share information about Lightning payments, and help grow the 
ecosystem.
&#8220;Right now Plettenberg Bay is by far the most interesting circular economy in 
Africa and possibly the world,&#8221; said Jones. &#8220;It currently boasts having the 
most businesses accepting Bitcoin of any town in Africa and has achieved this 
in less than three months.&#8221;
_Bitcoin preferred signs can be found along the Garden Route. Source: Edwin 
Jones_
## Sedgefield is a quiet pioneer
Sedgefield, a tranquil town between Knysna and Wilderness, played a key role 
in the national rollout of Bitcoin payments at Pick n Pay. It was one of the 
trial sites for the innovative QR code converter from MoneyBadger, which 
enables Bitcoin spending at every Pick n Pay in South Africa.
Sedgefield itself doesn&#8217;t have the same density of Bitcoin-accepting 
independent merchants as Witsand or Plettenberg Bay, but the presence of Pick 
n Pay ensures that crypto tourists can always pay for groceries and essentials 
with sats.
## Practical information for your trip
If you do make it out to the Garden Route, recommended wallets include Blink, 
Wallet of Satoshi and Phoenix &#8212; all Lightning-enabled and widely used in the 
region.
In larger towns like Knysna, George, Wilderness and Oudtshoorn, the Bitcoin 
scene is still emerging. There aren&#8217;t yet established circular economies, but 
the nationwide acceptance of Bitcoin at Pick n Pay provides a reliable 
foundation for spending.
_The Spasie on Breede Restaurant and Bar is just one of many establishments 
accepting Bitcoin. Source: Edwin Jones_
BTC Map occasionally lists independent merchants, like Beans About Coffee in 
Oudtshoorn. Still, the best strategy is to ask around, look for Bitcoin 
signage, and use mapping tools to discover new acceptors.
For accommodation, activities and dining, direct inquiry remains key. Many 
guesthouses and tour operators are open to Bitcoin payments, especially as 
awareness grows. Online platforms like Bitrefill enable you to buy gift 
vouchers for major retailers using Bitcoin, providing a workaround for places 
that don&#8217;t yet accept crypto directly.
Happy travels.
_**Magazine:**__**Pranksy: Inside the anonymous life of an NFT legend &#8212; NFT 
Collector**_

A Bitcoiner’s guide to South Africa’s Garden Route

_**Opinion by: Merlin Egalite, co-founder at Morpho Labs**_
Fintechs in the front, decentralized finance (DeFi) in the back: the DeFi 
Mullet.
Today&#8217;s fintech companies offer excellent user experiences but are constrained 
by traditional financial infrastructure &#8212; siloed, slow, expensive and 
inflexible. Meanwhile, DeFi provides lightning-fast, cost-effective, 
interoperable infrastructure but lacks mainstream accessibility.
The solution? Combine fintech&#8217;s distribution and user experience with DeFi&#8217;s 
efficient back end.
## The mullet is inevitable
Fintech companies heavily rely on traditional financial (TradFi) 
infrastructure that is siloed, slow to deploy and run, and costly to maintain. 
This inefficiency limits their control over costs and product offerings and 
has potential infrastructure risks. Fintechs have a strong incentive to 
transition to building on autonomous, credibly neutral public infrastructure.
The power of DeFi is evident in stablecoins. While traditional international 
wire transfers cost $30-$50 and take one to five business days, stablecoin 
transfers cost mere cents and settle in seconds. This revolutionary 
improvement in financial infrastructure extends beyond payments. DeFi provides 
24/7/365 infrastructure for trading, lending and borrowing with instant 
settlement, open access and deep liquidity, enabling better price execution 
and yields.
Plugging their compliance-ready front end into DeFi infrastructure, fintech 
companies can focus on creating exceptional user experiences. This opens up 
tremendous opportunities for innovation while driving more liquidity onchain, 
creating a positive feedback loop of embracing the DeFi Mullet.
## Now is the time for mainstream adoption
Today&#8217;s DeFi ecosystem has proven its reliability for fintech integration. 
There are dozens of protocols that demonstrate this maturity, securely 
managing billions in loans through immutable, governance-minimized designs. 
DeFi infrastructure gives fintechs complete control over their infrastructure. 
This is particularly crucial after the recent Synapse bankruptcy that trapped 
Yotta user funds meant to be insured by the Federal Deposit Insurance 
Corporation.
_**Recent:**__**Bitcoin DeFi will have 300M users, beating Ethereum and 
Solana: Exec**_
Institutions are also coming onchain. BlackRock has tokenized a fund via 
Securitize; Stripe has acquired Bridge for $1 billion to scale its stablecoin 
solutions; the US is creating a strategic Bitcoin (BTC) reserve; and clarity 
on regulation is opening the floodgates. The shift is step-by-step but 
tangible.
DeFi has arrived.
## The next phase
For years to come, expect more products like crypto-backed loans to be 
released by fintech&#8217;s most advanced players, offering onchain saving accounts, 
onchain loans, instant international payments and more.
This transformation will be invisible to users and powered by smart wallets 
and account abstraction that maintain the familiar Web2-like user experience 
at which fintech companies excel. Early adopters will gain significant 
advantages over competitors.
Yet, unlike building on traditional finance, DeFi&#8217;s open infrastructure means 
even latecomers can benefit from existing network effects without starting 
from zero.
Some skeptics argue that the involvement of fintechs and traditional 
institutions will erode decentralization, as protocols must comply with 
regulatory requirements. While this concern is understandable, the opposite is 
more likely.
Expecting protocols to achieve compliance across every jurisdiction worldwide 
is unrealistic, especially given the vast regulatory fragmentation. Instead, 
regulating the apps that interface with users makes far more sense rather than 
the underlying protocols. For this regulatory model to work, however, 
protocols must remain credibly neutral.
A credibly neutral mechanism adheres to four principles:
 * It embeds no preference for specific individuals or outcomes.
 * It is open-source with publicly verifiable execution.
 * It is simple and understandable.
 * It changes infrequently.
Examples like HTTP and SMTP demonstrate the power of credibly neutral 
protocols &#8212; they are free, open and unregulated, with only the clients 
subject to oversight. The same logic should apply to governance-minimized, 
immutable DeFi protocols.
These constraints will push DeFi builders toward creating genuinely 
decentralized and trustless systems.
Fintechs integrating DeFi protocols can build on top of the most neutral 
infrastructure and access their growing network effects.
## Let the mullet grow
The DeFi mullet is more than just a meme &#8212; it&#8217;s a structural shift.
To scale, DeFi must meet users where they are: through regulated, user- 
friendly fintech channels. For fintechs to stay relevant, they must offer 
their customers the best user experience and opportunities, such as the best 
rates. Those who miss this opportunity risk falling into irrelevance, much 
like traditional retail banks losing market share to today&#8217;s fintechs.
This convergence isn&#8217;t just possible &#8212; it&#8217;s inevitable.
_**Opinion by: Merlin Egalite, co-founder at Morpho Labs.**_
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

The DeFi mullet — Fintech needs DeFi in the back

Bitcoin price remained in an extended consolidation after the U.S. lost its 
last triple-A credit rating on Friday. Bitcoin (BTC) was trading at $103,000, 
2.8% below its highest level this month. This slight pullback has brought its 
market cap to…

Moody’s cuts US credit rating, Bitcoin doesn’t flinch

Elon Musk’s latest profile name change on X has sent ripple effects through 
the crypto market yet again. After swapping his profile to “Kekius Maximus” 
with a Roman‑style frog avatar, the meme‑inspired token tied to that name shot 
up by almost 120% in just 24 hours. Based on Binance data, traders saw KEKIUS 
climb from an average of 0.025 to 0.0502 overnight. Related Reading: Price 
Down, Bets Up: Dogecoin Open Interest Climbs To $1.62 Billion Musk Sparks 
Another Frog Coin Surge According to reports, this isn’t the first time Musk’s 
social‑media tweaks have moved meme coins. Last December, he adopted the same 
name and a golden‑armored Pepe image. That move drove KEKIUS nearly 500% 
higher in a single day before prices tumbled back. His followers treat each 
change like a buy signal. They pile in fast when they see a new profile name. 
Then many scramble to exit once the hype dies down. 𝕏 is news by the people 
for the people. Seeking truth, but always self-critical. — Kekius Maximus 
(@elonmusk) May 15, 2025 Price Jumps 119% In A Day Binance figures show the 
token’s value leapt 119% within 24 hours of Musk’s latest switch. 
CoinMarketCap data confirms it hit 0.0502 at the peak, up from about 0.025 
just a day earlier. That level is still far below its initial launch price 
last year. At one point, speculators were paying 0.25 for a single KEKIUS 
token before the first big crash. History Of Kekius Maximus Name Kekius 
Maximus blends several things at once. “Kek” started as gamer slang for 
laughing. It also links back to an Egyptian frog‑headed god of chaos. Maximus 
echoes the gladiator hero from a famous movie. The token itself runs on both 
Ethereum and Solana blockchains. Creators say they wanted to mix memes, myth 
and pop culture. But there’s no big tech behind it—just a playful mashup that 
reacts to Elon Musk’s mood swings. Risky Ride For Investors Based on reports, 
this pattern shows just how wild crypto can get when a celebrity is involved. 
These tokens offer no real product or service. They live or die on hype alone. 
When the profile name flips back, they often collapse. Traders who jump in at 
the peak can face heavy losses. Regulators have flagged such pumps as a 
concern. They warn that celebrity chatter can mask the true risk under the 
surface. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters 
Market In Under A Month A Wider Trend In Meme Tokens Earlier this month, Musk 
tried a different name—“Gorklon Rust”—and a related coin, GORK, doubled in 
value. That name combined his AI chatbot’s name with a programming language 
used by X’s engineers. Again, traders treated it like an open invitation. GORK 
saw a 100% spike in 24 hours. But it then gave most of that back when the 
novelty wore off. What To Watch Next Investors who follow these moves need to 
stay alert. Such jumps can happen without warning, and they can reverse just 
as fast. Some see them as short‑term bets, almost like casino plays. Others 
treat them as entertainment. Either way, it’s clear that Musk’s profile 
choices remain a powerful crypto driver. And for many tokens, that power can 
vanish as quickly as it appears. Featured image from Gemini Imagen, chart from 
TradingView

Elon Musk Becomes ‘Kekius Maximus’—Meme Coin Soars 120%

Cryptocurrency exchange Bitstamp has received a Crypto Asset Service Provider 
(CASP) license under the EU&#8217;s MiCA regulation from Luxembourg&#8217;s Commission de 
Surveillance du Secteur Financier. This license, combined with the European 
Passport, will allow Bitstamp to operate its trading platform, execute client 
orders, and provide crypto custody services across the European Economic Area. 
Bitstamp&#8217;s CEO […]