As a researcher, I find it deeply concerning that Neel Somani, the Founder and former CEO of Ethereum Layer-2 Blockchain Eclipse, has been accused of sexual misconduct and has since stepped down from his position. The crypto industry should hold its leaders to the highest standards, especially when it comes to respecting the personal boundaries and dignity of others.
Neel Somani, the Founder of Ethereum Layer-2 Blockchain Eclipse, has been removed from his position as CEO following allegations of sexual misconduct. Eclipse Labs has named Vijay Chetty, their current Chief Growth Officer (CGO), as Somani’s replacement, assuming the CEO duties and responsibilities.
Ethereum L2 Eclipse Changes Leadership
Eclipse Labs is a software company that played a significant role in creating the initial Ethereum layer-2 solution based on the Solana Virtual Machine (SVM). According to Neel Somani, Eclipse is designed to be Ethereum’s most swift layer-2, taking advantage of the most effective modular stack components currently in use.
On Thursday, it was announced that Vijay Chetty would assume the role of CEO at Eclipse Labs, taking over from his previous position as CGO, effective immediately. This transition occurred due to the departure of Somani, the company’s founder and former CEO.
In the X post, the company showcased Chetty’s 10-year career journey in the crypto sector, during which he held significant roles at Uniswap Labs, dYdX Trading, and Ripple Labs. Moreover, Eclipse’s team underscored that the incoming CEO had a pivotal impact on developing the Ethereum-project’s investor base, community, and partnership network.
The announcement ignored the cause for Somani’s departure from Eclipse. Yet, Eclipse’s team had earlier expressed concern over the accusations leveled against their ex-CEO, assuring they prioritize “upholding the utmost ethical and professional conduct.”
In March, Hack VC, a venture capital firm specializing in Web3 projects, teamed up with Placeholder VC to co-lead Eclipse’s $50 million Series A funding round. When these venture capitals were mentioned in a post due to their involvement with the company, they responded, addressing the significant accusations.
It was disheartening to receive news of the recent serious accusations against Neel Somani, founder of Eclipse FND. At Hack VC, we firmly condemn sexual harassment and misconduct. Our founders and the companies in our portfolio are expected to uphold these values to the same degree.
— Hack VC (@hack_vc) May 16, 2024
As a crypto investor, I strongly condemn any form of sexual harassment or misconduct. When I became aware of allegations against someone in our industry, my firm, Hack VC, took immediate action. We worked closely with other investors and the team at Eclipse to address the situation. This involved urging the individual in question, Somani, to step down from their position.
Crypto Community Calls Out Inappropriate Behavior
Towards the end of April, a crypto community member made accusations against Somani in a public forum, claiming inappropriate conduct towards women. In a Reddit post (X), user Beachmojito advised women to avoid interaction with the Eclipse founder and shared a Telegram message that appeared to show Somani making unwanted advances.
In addition, the accuser maintained that Somani’s actions were commonly known within the industry. Following the allegation, numerous women spoke out, confirming the claims and sharing their own encounters with the founder.
Over the coming days, reports emerged that Somani was accused of forcibly drawing closer to women and touching them at the waist, even after being shunned both physically and verbally.
As a crypto investor reflecting on past experiences, I’ve come to accept that uncomfortable situations may arise. When someone disregarded my “no” and tried to pull me closer despite my resistance, I realized such an incident was inevitable. Thanks for standing up for me, server.
— Jiwoo Jun (@jiwoo_jun) May 8, 2024
Female colleagues from the industry recounted instances where they were invited to dinners by the founder, which they assumed were for business purposes. However, upon arrival, they felt uncomfortable as the meetings did not adhere to professional norms. Additionally, accusations against the ex-CEO of Eclipse continued to surface, with several women reporting unwanted touching and disregard for their explicit refusals.
On May 10, Somani firmly refused all accusations against him, asserting that he had never sexually assaulted or harassed any woman in his past. He made it clear that his denial of these alleged false claims was not an attempt to downplay the significance of the issue. In response, Somani decided to take a step back from being Eclipse’s public representative temporarily while working to prove his innocence.
After the allegations surfaced, there has been an important dialogue initiated: the problem of sexual harassment within the industry merits our serious attention.
In the crypto community and beyond, it’s important to address and condemn harassment. A fellow community member emphasized that promoting respectful and professional behavior in all business dealings is crucial.
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2024-05-17 04:12