Ethereum’s layer-2 project, Eclipse, is undergoing a change in leadership due to allegations of sexual misconduct against its former CEO.
Neel Somani, the project’s founder and former CEO, has decided to step down from his position. Eclipse Labs announced on May 16 that Vijay Chetty will be taking over as CEO immediately.
The announcement from Eclipse did not specify the reasons for Somani’s departure.
Chetty, who has been leading Eclipse and previously served as the project’s growth officer, brings a wealth of experience to his new role. He has held leadership positions at dYdX Trading, Ripple Labs, and Uniswap Labs, and has also worked with investment giant BlackRock.
Somani, on the other hand, has vehemently denied all allegations made against him. In response to the claims, he announced on May 9 that he would be reducing his public presence temporarily.
He maintains that he has not engaged in any sexual assault or harassment.
In the wake of these developments, Eclipse emphasized that it takes the allegations seriously and values the truth.
The news of Somani’s departure sparked a strong reaction from the cryptocurrency community, with many interpreting it as an admission of guilt.
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Several of Eclipse’s supporters and investors have expressed their concern over the situation. Haseeb Qureshi, managing partner at Dragonfly Capital, revealed that his firm decided against investing in Eclipse after uncovering information about Somani’s alleged history of sexual harassment.
Hack VC, another investor in Eclipse, also voiced their unease about the allegations against Somani. The firm encouraged Somani to resign and expressed satisfaction with his decision.
In a statement, Hack VC reiterated that the alleged behavior is unacceptable under any circumstances.
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