SushiSwap's Jared Grey Steps Down as Head Chef

Source: CryptoNewsNet Original Title: SushiSwap’s Jared Grey Steps Down as Head Chef Original Link: SushiSwap’s longtime leader, Jared Grey, is stepping down after more than three years as Head Chef and Managing Director. Sushi, a decentralized exchange (DEX) and a decentralized finance (DeFi) protocol built on Ethereum, currently boasts a total value locked of $106.5 million, down significantly from its all-time high of over $9 billion in November 2021.

Grey called his time at Sushi “exhilarating” and noted that while he’s stepping down from his leadership role, he will remain involved as an advisor moving forward.

This move marks the second major leadership change for Sushi in three years. In 2022, the project faced months of internal turmoil and a failed merger attempt before the community elected Grey as “head chef.”

Since then, Sushi has spent the past few years rebuilding, expanding to more blockchains, and dealing with regulatory and market challenges. Now, the project is preparing for another leadership change as it continues to reorganize its operations.

“Leading Sushi has been a dream role, and I’m proud of what we’ve accomplished, even though there’s so much more work to do,” Grey said. “Even though I’m stepping down from my leadership position, I remain committed to providing strategic guidance to Alex McCurry and the team.”

Grey’s departure comes as Synthesis makes a major capital investment into Sushi and appoints its founder, Alex McCurry, as the project’s new Managing Director.

Sushi’s native token, SUSHI, is trading at $0.33, down 12% on the day amid a broader crypto market downturn that has persisted for several weeks. Over the past 30 days, SushiSwap has processed over $2 billion in DEX volume.