Neel Somani, the CEO and founder of Eclipse, revealed on Thursday that he is taking a temporary leave of absence from his public role in light of the sexual misconduct allegations.

Through a couple of posts on X (formerly Twitter), Somani refuted the accusations and admitted the gravity of the situation. He stressed that he would remain active in the company, although he would lessen his participation in public activities such as podcasts and panels.

“I remain actively involved as the CEO, and I will continue to be so,” Somani said. I will just be taking a break from podcasts/panels. He made the decision after the allegations about him started spreading on social media just a couple of days ago.

Eclipse’s Official Response

Eclipse, a Layer 2 solution for Ethereum, issued an official statement through its X account, effectively reassuring that it would uphold high levels of personal and professional behaviors. The company emphasized its commitment to women’s right as well as fair treatment within the place of work.

Eclipse stated, “The team stands behind the allegations against our founder, Neel Somani, and believes in truth.” The company also said it would share more relevant information about senior leadership soon.

Further, Eclipse confirmed its purpose of becoming a connector between Ethereum and Solana and creating an advanced blockchain for the future industry. The company also guaranteed its supporters and the wider society its continued adherence to this vision.

Allegations and Somani’s Defense

The allegations against Somani broke on X, leading to a swift reply by the CEO. He firmly rejected all the allegations and said he would clear his name.

“Some very serious allegations have been levelled against me through Twitter in the past week,” Somani penned. “These are spurious allegations, but this is an important and serious accusation and each such accusation should be tackled seriously and responded to in a thoughtful manner.”

Somani stressed that withdrawal from his public role would allow these conversations to take place and for the truth to prevail. He insisted that the issue must not impact the reputations of his team, the investors, or the ecosystem of developers involved with Eclipse.

Company’s Future Amidst Allegations

Controversy notwithstanding, Eclipse remains committed to its core mission. The company has just raised $50 million in a Series A round of funding, co-led by Placeholder and Hack VC, making its total funding $65 million.

This funding is meant to continue the development of Eclipses’ Layer 2 scaling solution for Ethereum.

Eclipse’s commitment to its mission remains unchanged, and the company is working to ensure that the allegations do not disrupt its progress. The upcoming disclosures about the senior leadership are part of Eclipse’s effort to maintain transparency and trust within the community.

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Filed under: News - @ January 1, 1970 12:00 am