One of Pi's more serious upgrades barely sounds bullish
Protocol v25 introduced BN254 cryptography and Poseidon hashing, tools developers can use to build zero knowledge applications.
In simple terms, apps could prove something is true without exposing all the underlying data, such as proving eligibility without sharing your full identity. This does not make Pi a privacy coin. It simply gives developers stronger privacy tools to build with. Infrastructure creates possibilities. Apps create utility.