Ethereum Layer 2 blockchain Eclipse's CEO Neel Somani steps back from a public-facing role amid sexual misconduct allegations. Somani denies the allegations, stating they are false and intends to clear his name. Eclipse's senior leadership will take over his responsibilities, ensuring the company's commitment to high personal and professional standards, including gender equality and fair treatment. The company had recently raised $50 million in a Series A funding round and launched its Ethereum Layer 2 mainnet in September 2023.

Ethereum layer 2 blockchain Eclipse founder and CEO Neel Somani says he is “temporarily reducing” his role as a “public face” for the firm as he faces sexual misconduct allegations. “Serious allegations have been made against me on Twitter in the last week. These allegations are false,” Somani wrote in a May 9 X post . “Serious allegations about sexual misconduct warrant a serious and thoughtful response.” He added he “never sexually assaulted or harassed any woman” and would “work to clear my name and defend myself.” Eclipse’s senior leadership was “well equipped to take on these responsibilities and this will allow these conversations to unfold and the truth to emerge about these allegations,” he wrote. In a May 9 X post , Eclipse wrote its team “takes allegations against our CEO, Neel Somani, seriously and believes in the importance of truth.” Related: SEC doesn’t want Ethereum to transform banking landscape, says Joseph Lubin “Eclipse remains committed to maintaining the highest personal and professional standards, including gender equality and fair treatment,” it wrote. Somani and Eclipse did not immediately respond to requests for comment. In March, Eclipse said it raised a $50 million Series A round led by venture firms Hack VC and Placeholder which brought its total capital to raised to $65 million. The firm launched the mainnet of its Ethereum layer 2 in September 2023. Magazine: The real risks to Ethena’s stablecoin model (are not the ones you think) 

Eclipse CEO Neel Somani Steps Back Amid Sexual Misconduct Allegations