CEO of Ethereum L2 Eclipse replaced amidst allegations of sexual misconduct

May 15, 2024 11:57 PM PDT | By Invezz

CEO of Ethereum L2 Eclipse replaced amidst allegations of sexual misconduct — Image source: Invezz

Somani pleads not guilty

Vijay Chetty, previously Eclipse’s chief growth officer, has held leadership roles at Uniswap Labs, dYdX Trading, and Ripple Labs. He also has investment experience at BlackRock.

On May 9, Neel Somani said he was “temporarily reducing” his role as the public face of Eclipse due to “serious allegations about sexual misconduct” made against him on X, which he has denied. Somani stated he “never sexually assaulted or harassed any woman” and intended to clear his name and defend himself.

Eclipse responded to the allegations with a statement. It said the firm takes such claims seriously and emphasized the importance of truth. The company completed a $50 million Series A funding round led by Hack VC and Placeholder in March.

Community speaks up

Hack VC, in a May 16 post on X, expressed its distress over the allegations against Somani.

The firm said it worked to “correct the situation, including urging Neel to resign,” and was pleased to see the resignation take place. Hack VC emphasized its zero-tolerance policy towards sexual harassment or misconduct and stated that the alleged behavior was “unacceptable, full stop.”

In a May 10 post on X, Haseeb Qureshi, managing partner of crypto VC firm Dragonfly Capital, said his firm declined to invest in Eclipse after discovering a history of sexual harassment allegations against Somani during their due diligence process.

Qureshi noted that if such information had been discovered with minimal diligence, the actual investors would have likely been aware of it as well.

The post CEO of Ethereum L2 Eclipse replaced amidst allegations of sexual misconduct appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.