6 August 2025

Solana’s Seeker Mobile Phone Now Shipping to Customers

Key developments in cryptocurrency technology from this week's wrap-up:

Solana Seeker Phone Launch: The Solana Seeker phone has started shipping, designed for active Solana users with pre-orders of 150,000 units. It features improved usability and a price point of $500.
Base Network Outage: Base network experienced a 33-minute halt due to a sequencer failure on August 5. Issues arose from congestion and insufficient provisioning during failover attempts, highlighting risks in layer-2 rollup networks.
Jito Proposal: Jito Labs proposed governance change (JIP-24) to route all Block Engine and BAM fees to the Jito DAO treasury, aiming to decentralize revenue control and enhance token value.
Cardano Development Budget Approved: Cardano's community approved a $71 million budget for core development over the next year to support projects like Hydra and Project Acropolis, aimed at improving transaction efficiency and developer onboarding.

Big banks are reportedly increasing fees for consumers using fintech and crypto apps, potentially limiting competition in the sector, according to a16z.
Celestia’s TIA token saw a significant drop from $20 to under $1.65 post-airdrop in 2023, amid concerns over its vesting schedule impacting market supply.

The White House is set to issue an executive order penalizing banks that close accounts based on customer beliefs, potentially stabilizing the crypto sector after past government efforts to limit crypto access.
French lawmakers propose using surplus electricity from nuclear plants for bitcoin mining, utilizing excess energy from state-owned facilities.