Jared Grey announced on Dec. 1, 2025 that he would step down from Sushi's leadership, PANews reported that day1. Grey held two titles at the time, Head Chef of SushiSwap and managing director of Sushi Labs, and he moved into an advisory role, PANews said. Synthesis, an investment firm led by entrepreneur Alex McCurry, made a significant capital investment in Sushi as part of the same transition, and McCurry joined as managing director, according to the PANews report. Sushi's own press release followed on Dec. 16, 2025, naming McCurry chief executive and confirming Grey's exit2.
The second executive exit at Sushi on the record since 2021
Every move CryptoLately has verified there, by the day it became public
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Date | Event |
|---|---|
| Sept. 18, 2021 | 0xMaki left as Core Contributor. 0xMaki left as Core Contributor of Sushi |
| Oct. 3, 2022 | Grey became Head Chef. Jared Grey was named Head Chef (CEO) of Sushi (SushiSwap DAO) |
| Oct. 3, 2022 | Grey became Head Chef. Jared Grey was named Head Chef of Sushi |
| Dec. 1, 2025 | Grey left as Managing Director. Jared Grey left as Managing Director, Sushi Labs of Sushi |
| Dec. 1, 2025 | McCurry became Chief Executive. Alex McCurry was named Chief Executive of Sushi |
20 executive exits on the record in 2025
Executive exits CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2025: 20
- 2019, 2020, 2021, 2022, 2023, 2024, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 6 |
| 2020 | 1 |
| 2021 | 9 |
| 2022 | 9 |
| 2023 | 8 |
| 2024 | 11 |
| 2025 | 20 |
| 2026 | 27 |
The move
Grey framed his exit as a continuing role rather than a clean break. “While I will be stepping down from my leadership role, I will continue to provide strategic guidance to Alex and the team,” Grey said, PANews reported1. Sushi's own release quantified the new investor's stake. “Synthesis has acquired more than 10 million $SUSHI tokens, underscoring its conviction in Sushi's future and its role in the evolving DeFi landscape,” the release said2. The release called McCurry "a Forbes 30 Under 30 honoree and seasoned founder" who "has built and scaled eight-figure software companies".
His tenure had begun with a DAO election on Oct. 3, 2022, when he polled more than 83 percent of 13 million votes cast, The Block reported at the time3. The exit closed a run of just under three years and two months, from that October 2022 vote to his Dec. 1, 2025 announcement.
Sushi's position at the handoff
A turning point, by Sushi's own account, arrived in 2024. Sushi became profitable that year, generating more than $10 million in revenue across its automated market maker, aggregator and related product lines, the release said2. Katana, a Polygon-supported layer-2 network, had accumulated more than $100 million in total value locked on Sushi by the time of the announcement, according to the release. McCurry's mandate, as the release listed it, covers deepening liquidity, expanding protocol-owned liquidity and strengthening Sushi's tokenomics.
What to watch
McCurry's stated priorities give the next stretch a measurable test. Watch for Sushi to report revenue or Katana's total value locked in a future update, since the Dec. 16, 2025 release used both figures to justify the leadership change2. A second marker sits with Grey himself. Any public statement or appearance from him would show whether his promised "strategic guidance" continues in practice1.
Sources
- "Jared Grey announced his resignation from leadership of Sushi and his transition to an advisory role; Sushi also received a significant investment from Synthesis.," PANews, Dec. 1, 2025, https://www.panewslab.com/en/articles/c11a3630-ebe3-40e5-97ed-2cc107f5a097
- Sushi, "Sushi Announces Strategic Investment and New Leadership to Accelerate Next Phase of Growth," PR Newswire, Dec. 16, 2025, https://www.prnewswire.com/news-releases/sushi-announces-strategic-investment-and-new-leadership-to-accelerate-next-phase-of-growth-302644077.html
- Osato Avan-Nomayo, "Sushi DAO votes Jared Grey as new 'Head Chef'," The Block, Oct. 3, 2022, https://www.theblock.co/post/174392/sushi-dao-votes-jared-grey-as-new-head-chef