Solana-Based Decentralized Exchange Serum Now ‘Defunct’ After FTX and Alameda Implosion – Here’s What Happened

As the bankruptcy proceedings of FTX and linked firm Alameda Research continue to ravage through the cryptosphere, Solana-based decentralized exchange Serum is one of the latest victims of the collapse triggered by Sam Bankman-Fried’s actions. Serum has announced in a tweet that, as the upgrade authority is held by FTX, its program on the mainnet became defunct.