Eclipse Labs founder and CEO Neel Somani officially stepped down and was replaced by Vijay Chetty “effective immediately” following sexual harassment allegations.
In a social media post, Eclipse Labs announced Somani’s departure and Chetty’s promotion from director of development to CEO.
“Chetty brings more than a decade of cryptocurrency experience to the leadership position, having held executive positions at Uniswap Labs, dYdX Trading and Ripple Labs, as well as having held investment positions at BlackRock,” the company said via social media platform X.
On Friday, Somani on social media platform X, formerly Twitter, addressed allegations that he is innocent and ready to defend his reputation . Last week, Somani said he would “temporarily limit” his role in the public space, and declared that he was innocent and ready to defend his reputation. The allegations have not been proven in court.
Eclipse Labs is a Layer 2 blockchain scaling project built on Ethereum based in San Francisco. In March, Eclipse Labs announced that it had raised $50 million in a funding round to accelerate the launch of its Ethereum network scaling solution.
The funding round was co-led by Placeholder and Hack VC, bringing the total capital raised to $65 million. Other notable participants in the round were Polychain Capital, Delphi Digital, Maven 11, DBA, Apollo-managed funds and Fenbushi Capital.
Eclipse Labs announced it is seeking employees for several positions, including development engineer, marketing leader and HR operations manager, with preference given to candidates living in the Bay Area.
