SBF's ‘Truly Trustless' Protocol — Serum's Upgrade Authority May Be Tainted, Devs Look to Fork Project

According to Solana's founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX's Sam Bankman-Fried (SBF), was touted as “completely permissionless,” but now that the exchange has fallen, it's suspected that Serum's upgrade authority is tainted.

Timeline of Serum

Serum (SRM) has struggled against tether (USDT) in recent weeks, rising above $0.8 as the price of Serum (SRM) remains range-bound. For weeks, the price of Bitcoin (BTC) fluctuated between $19,500 and $20,000, with the price stalling on the next movement.

The blockchain industry is expanding unpredictably, with new projects surfacing regularly. As they provide users with greater returns on their investments, the impact of modern projects has continued to soar. One such initiative with substantial use cases for the present and the future as well as with earning potential is Serum (SRM).