diff --git a/Cargo.lock b/Cargo.lock
index 687991fcf5..e03d55798f 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2722,13 +2722,15 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry"
-version = "0.16.0"
+version = "0.17.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e1cf9b1c4e9a6c4de793c632496fa490bdc0e1eea73f0c91394f7b6990935d22"
+checksum = "6105e89802af13fdf48c49d7646d3b533a70e536d818aae7e78ba0433d01acb8"
 dependencies = [
  "async-trait",
  "crossbeam-channel",
- "futures 0.3.21",
+ "futures-channel",
+ "futures-executor",
+ "futures-util",
  "js-sys",
  "lazy_static",
  "percent-encoding 2.1.0",
@@ -6486,9 +6488,9 @@ dependencies = [
 
 [[package]]
 name = "tarpc"
-version = "0.27.2"
+version = "0.28.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b85d0a9369a919ba0db919b142a2b704cd207dfc676f7a43c2d105d0bc225487"
+checksum = "d1c46acb4df5c8ca12495cbc3e09e7ee16df3e533399bd51528e3423f810de44"
 dependencies = [
  "anyhow",
  "fnv",
@@ -7008,9 +7010,9 @@ dependencies = [
 
 [[package]]
 name = "tracing-opentelemetry"
-version = "0.15.0"
+version = "0.17.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "599f388ecb26b28d9c1b2e4437ae019a7b336018b45ed911458cd9ebf91129f6"
+checksum = "1f9378e96a9361190ae297e7f3a8ff644aacd2897f244b1ff81f381669196fa6"
 dependencies = [
  "opentelemetry",
  "tracing",
@@ -7020,9 +7022,9 @@ dependencies = [
 
 [[package]]
 name = "tracing-subscriber"
-version = "0.2.25"
+version = "0.3.7"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0e0d2eaa99c3c2e41547cfa109e910a68ea03823cccad4a0525dcbc9b01e8c71"
+checksum = "5312f325fe3588e277415f5a6cca1f4ccad0f248c4cd5a4bd33032d7286abc22"
 dependencies = [
  "sharded-slab",
  "thread_local",
diff --git a/banks-client/Cargo.toml b/banks-client/Cargo.toml
index 2624af4774..2af9672d14 100644
--- a/banks-client/Cargo.toml
+++ b/banks-client/Cargo.toml
@@ -15,7 +15,7 @@ futures = "0.3"
 solana-banks-interface = { path = "../banks-interface", version = "=1.11.0" }
 solana-program = { path = "../sdk/program", version = "=1.11.0" }
 solana-sdk = { path = "../sdk", version = "=1.11.0" }
-tarpc = { version = "0.27.2", features = ["full"] }
+tarpc = { version = "0.28.0", features = ["full"] }
 thiserror = "1.0"
 tokio = { version = "1", features = ["full"] }
 tokio-serde = { version = "0.8", features = ["bincode"] }
diff --git a/banks-interface/Cargo.toml b/banks-interface/Cargo.toml
index ebab9d8718..af062cb919 100644
--- a/banks-interface/Cargo.toml
+++ b/banks-interface/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2021"
 [dependencies]
 serde = { version = "1.0.136", features = ["derive"] }
 solana-sdk = { path = "../sdk", version = "=1.11.0" }
-tarpc = { version = "0.27.2", features = ["full"] }
+tarpc = { version = "0.28.0", features = ["full"] }
 
 [lib]
 crate-type = ["lib"]
diff --git a/banks-server/Cargo.toml b/banks-server/Cargo.toml
index 67580317cc..1bdcc99a03 100644
--- a/banks-server/Cargo.toml
+++ b/banks-server/Cargo.toml
@@ -17,7 +17,7 @@ solana-banks-interface = { path = "../banks-interface", version = "=1.11.0" }
 solana-runtime = { path = "../runtime", version = "=1.11.0" }
 solana-sdk = { path = "../sdk", version = "=1.11.0" }
 solana-send-transaction-service = { path = "../send-transaction-service", version = "=1.11.0" }
-tarpc = { version = "0.27.2", features = ["full"] }
+tarpc = { version = "0.28.0", features = ["full"] }
 tokio = { version = "1", features = ["full"] }
 tokio-serde = { version = "0.8", features = ["bincode"] }
 tokio-stream = "0.1"
diff --git a/programs/bpf/Cargo.lock b/programs/bpf/Cargo.lock
index c8c7e868c7..9cc610b296 100644
--- a/programs/bpf/Cargo.lock
+++ b/programs/bpf/Cargo.lock
@@ -1782,13 +1782,15 @@ checksum = "ff011a302c396a5197692431fc1948019154afc178baf7d8e37367442a4601cf"
 
 [[package]]
 name = "opentelemetry"
-version = "0.16.0"
+version = "0.17.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e1cf9b1c4e9a6c4de793c632496fa490bdc0e1eea73f0c91394f7b6990935d22"
+checksum = "6105e89802af13fdf48c49d7646d3b533a70e536d818aae7e78ba0433d01acb8"
 dependencies = [
  "async-trait",
  "crossbeam-channel",
- "futures",
+ "futures-channel",
+ "futures-executor",
+ "futures-util",
  "js-sys",
  "lazy_static",
  "percent-encoding",
@@ -4137,9 +4139,9 @@ dependencies = [
 
 [[package]]
 name = "tarpc"
-version = "0.27.2"
+version = "0.28.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b85d0a9369a919ba0db919b142a2b704cd207dfc676f7a43c2d105d0bc225487"
+checksum = "d1c46acb4df5c8ca12495cbc3e09e7ee16df3e533399bd51528e3423f810de44"
 dependencies = [
  "anyhow",
  "fnv",
@@ -4388,9 +4390,9 @@ dependencies = [
 
 [[package]]
 name = "tokio-util"
-version = "0.6.4"
+version = "0.6.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ec31e5cc6b46e653cf57762f36f71d5e6386391d88a72fd6db4508f8f676fb29"
+checksum = "9e99e1983e5d376cd8eb4b66604d2e99e79f5bd988c3055891dcd8c9e2604cc0"
 dependencies = [
  "bytes 1.1.0",
  "futures-core",
@@ -4442,18 +4444,19 @@ dependencies = [
 
 [[package]]
 name = "tracing-core"
-version = "0.1.21"
+version = "0.1.26"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1f4ed65637b8390770814083d20756f87bfa2c21bf2f110babdc5438351746e4"
+checksum = "f54c8ca710e81886d498c2fd3331b56c93aa248d49de2222ad2742247c60072f"
 dependencies = [
  "lazy_static",
+ "valuable",
 ]
 
 [[package]]
 name = "tracing-opentelemetry"
-version = "0.15.0"
+version = "0.17.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "599f388ecb26b28d9c1b2e4437ae019a7b336018b45ed911458cd9ebf91129f6"
+checksum = "1f9378e96a9361190ae297e7f3a8ff644aacd2897f244b1ff81f381669196fa6"
 dependencies = [
  "opentelemetry",
  "tracing",
@@ -4463,9 +4466,9 @@ dependencies = [
 
 [[package]]
 name = "tracing-subscriber"
-version = "0.2.18"
+version = "0.3.11"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "aa5553bf0883ba7c9cbe493b085c29926bd41b66afc31ff72cf17ff4fb60dcd5"
+checksum = "4bc28f93baff38037f64e6f43d34cfa1605f27a49c34e8a04c5e78b0babf2596"
 dependencies = [
  "sharded-slab",
  "thread_local",
@@ -4595,6 +4598,12 @@ version = "0.7.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "05e42f7c18b8f902290b009cde6d651262f956c98bc51bca4cd1d511c9cd85c7"
 
+[[package]]
+name = "valuable"
+version = "0.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "830b7e5d4d90034032940e4ace0d9a9a057e7a45cd94e6c007832e39edb82f6d"
+
 [[package]]
 name = "vec_map"
 version = "0.8.2"