CEO of Eclipse Labs Steps Down Amidst Allegations of Sexual Misconduct

Eclipse Labs CEO Takes Step Back Amid Sexual Misconduct Allegations


By Tanzeel Akhtar
Updated:
May 10, 2024 00:21 EDT
|
1 min read


Neel Somani, the founder and CEO of Eclipse Labs, has announced that he will be temporarily reducing his role as the public face of the company following serious allegations of sexual misconduct.
Somani made the announcement on X, formerly known as Twitter, where he stated his innocence and readiness to defend his reputation.
“I have been accused of serious misconduct on Twitter in the past week. These allegations are untrue, but I understand that allegations of this nature require a serious and thoughtful response,” Somani shared on X.
In response to the allegations, Eclipse Labs also took to social media to emphasize its commitment to upholding professional standards and gender equality.
Eclipse Labs is a project focused on layer-2 blockchain scaling, built on Ethereum and headquartered in San Francisco.
“The senior leaders at Eclipse are fully capable of assuming these responsibilities, which will allow for open conversations and the truth to prevail regarding these allegations,” Somani further stated on X.
In March, Eclipse Labs announced that it had secured $50 million in funding to support the launch of its Ethereum network scaling solution.
The funding round was co-led by Placeholder and Hack VC, bringing the total amount raised to $65 million. Other notable participants included Polychain Capital, Delphi Digital, Maven 11, DBA, Apollo-managed funds, and Fenbushi Capital.
Additionally, Eclipse Labs is currently hiring for various positions, including a Growth Engineer, Marketing Lead, and People Operations Manager, with a preference for candidates based in the Bay Area.
In December 2023, Eclipse Labs unveiled a testnet aimed at prioritizing developers, with plans to open the mainnet to developers and provide them with a platform to build applications that leverage the project’s architecture.
The main goal of Eclipse Labs is to foster collaboration and interoperability between the Ethereum and Solana ecosystems, allowing applications built for Solana to run on Eclipse with minimal adjustments.
Within the Eclipse ecosystem, SOL tokens continue to serve as the primary currency, further bridging the gap between these two major blockchain platforms.
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