Neel Somani, founder of ethereum Layer-2 Blockchain Eclipse, has been replaced as chief executive officer (CEO) due to allegations of sexual misconduct. Eclipse Labs announced Vijay Chetty, the company's chief growth officer (CGO), as the new CEO, taking over Somani's responsibilities.
ethereum L2 Eclipse changes leadership
Eclipse Labs is a software company that “contributed to the development of the first layer 2 of ethereum using the Solana Virtual Machine (SVM).” According to Neel Somani, “Eclipse is designed to be the fastest layer 2 on ethereum, leveraging the best pieces of the modular stack available today.”
On Thursday, Eclipse Labs revealed that Vijay Chetty would be elevated “effective immediately” from his CEO role to become CEO of the company. The new appointment came about due to the “departure” of Somani, founder and former CEO of Eclipse.
<img decoding="async" class="size-large wp-image-300507 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/05/Ethereum-Eclipse-names-new-CEO-amid-accusations.png" alt="ethereum, eth” width=”740″ height=”300″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/05/Ethereum-Eclipse-names-new-CEO-amid-accusations.png 740w, https://bitcoinist.com/wp-content/uploads/2024/05/Captura-de-Pantalla-2024-05-16-a-las-1.09.03-p.-m.png?w=640 640w” sizes=”(max-width: 740px) 100vw, 740px” data-recalc-dims=”1″/>
Eclipse Labs annouces Vijay Chetty as new CEO. Source: twitter.com/EclipseFND/status/1790939437695996019" target="_blank" rel="noopener nofollow">Eclipse on x
In Post “pivotal role” in building the ethereum-based project's community, investors, and partner base.
The announcement did not acknowledge the reason for Somani's departure. However, the Eclipse team previously stated that they took the allegations against their former CEO seriously, stating that they were committed to “maintaining the highest personal and professional standards.”
In March, Hack VC, a Web3 venture capital firm, co-led Eclipse's $50 million Series A financing alongside Placeholder VC. Due to its connection with the company, the Venture Capital firm responded to the post by acknowledging the serious accusations.
<blockquote class="twitter-tweet” data-width=”500″ data-dnt=”true”>
We are deeply concerned to learn of the serious allegations recently made against twitter.com/EclipseFND?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>@EclipseFND founder Neel Somani. We do not tolerate sexual harassment or misconduct of any form at Hack VC, and we hold our founders and portfolio companies to the same high standards. Be… https://t.co/2g5P7Bjqq3
– Hack VC (@hack_vc) twitter.com/hack_vc/status/1790942270977675733?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>May 16, 2024
The firm stated that it does not tolerate sexual harassment or misconduct “in any form.” As a result, Hack VC revealed that his team had worked with other investors and the Eclipse team to “correct the situation” since learning of the allegations, even urging Somani to resign from his position.
crypto Community Reports Inappropriate Behavior
In late April, a member of the crypto community publicly criticized Somani for his alleged inappropriate behavior against women. In the x post, user Beachmojito urged women to stay away from the Eclipse founder, sharing a telegram message of Somani apparently “bashing” someone.
Furthermore, the user claimed to have thought that Somani's behavior was “open knowledge in the industry.” After its publication, many women came forward to support the allegations and share their experiences with the founder.
In the days that followed, stories began to emerge of Somani allegedly grabbing women by the waist and pulling them towards him despite being physically and verbally rejected.
<blockquote class="twitter-tweet” data-width=”500″ data-dnt=”true”>
When he grabbed me by the waist and pulled me towards him even after I said NO and pushed him away, I knew this would happen one day.
Thanks for talking, ser. https://t.co/cDjYT3n7uv
– Jiwoo Jun (@jiwoo_jun) twitter.com/jiwoo_jun/status/1788038821663178852?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>May 8, 2024
Other women in the industry twitter.com/zk_bella/status/1788069850507878858″ target=”_blank” rel=”noopener nofollow”>shared how the founder apparently invited them to dinner under pretexts, as the women believed the meeting was supposed to be business related. More accusations against the former Eclipse CEO continued to be shared, and many x.com/0xSolanaGirl/status/1788317093143654502″ target=”_blank” rel=”noopener nofollow”>including a pattern of inappropriate touching without consent despite clear rejection.
Somani denied all allegations on May 10 and claimed to have “never sexually assaulted or harassed any woman.” He twitter.com/neelsalami/status/1788658998411133067″ target=”_blank” rel=”noopener nofollow”>fixed he did not intend to minimize this current problem with his “denial of these false accusations.” At that time, Somani announced that he would temporarily reduce his role as the public face of Eclipse while he cleared his name.
Since the allegations, a vital conversation has opened: sexual harassment remains an issue in the industry that needs to be taken seriously.
Despite not being exclusive to the crypto community, the persistence of harassment and the minimization of this behavior should always be reported. As a member of the community twitter.com/0xJESSIE_/status/1788071467747619074″ target=”_blank” rel=”noopener nofollow”>he pointedAdvocating respectful and professional conduct in all business interactions should be a priority.
<img loading="lazy" decoding="async" class="size-large wp-image-300506 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/05/1715947570_364_Ethereum-Eclipse-names-new-CEO-amid-accusations.png" alt="ethereum, eth, ETHUSDT” width=”870″ height=”514″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/05/1715947570_364_Ethereum-Eclipse-names-new-CEO-amid-accusations.png 870w, https://bitcoinist.com/wp-content/uploads/2024/05/ETHUSDT_2024-05-16_08-27-38.png?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/05/ETHUSDT_2024-05-16_08-27-38.png?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/05/ETHUSDT_2024-05-16_08-27-38.png?w=750 750w” sizes=”(max-width: 870px) 100vw, 870px” data-recalc-dims=”1″/>
ethereum (eth) performance in the three-day chart. Source: ETHUSDT on x/FVCrHdft/" target="_blank" rel="noopener nofollow">TradingView
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