Eclipse Founder Neel Somani Steps Back from Public Role Following Misconduct Allegations

Cryptocurrency industry news took a significant turn this week as Neel Somani, the founder and CEO of the Ethereum layer-2 scaling platform Eclipse, announced his decision to reduce his public-facing involvement with the company. The move comes in response to recent allegations of sexual misconduct that surfaced on social media platforms.

The Allegations and Initial Response

Through a statement on X (formerly Twitter), Neel Somani addressed the accusations head-on, acknowledging that “serious allegations have been made” while maintaining that “these allegations are false.” However, recognizing the gravity of such claims, he emphasized that misconduct allegations—regardless of validity—merit a careful and considered response from leadership.

“I’ll be temporarily reducing my role as a public face for Eclipse,” Somani explained in his follow-up message. “The senior leaders at Eclipse are well equipped to take on these responsibilities and this will allow these conversations to unfold and the truth to emerge about these allegations.”

A spokesperson for Somani clarified to media outlets that no formal legal charges have been filed against him in connection with the alleged incidents, providing an important detail in the broader narrative surrounding the allegations.

Eclipse’s Official Position

The layer-2 scaling project issued its own statement through its official X account, reaffirming its organizational values and commitments. Eclipse stated it “remains committed to maintaining the highest personal and professional standards, including gender equality and fair treatment.”

In its message, the company signaled that it takes the allegations against its CEO seriously while emphasizing the importance of allowing the truth to surface. “The team takes allegations against our CEO, Neel Somani, seriously and believes in the importance of truth,” the organization wrote, suggesting a measured but attentive approach to the situation.

Company Background and Capital Raising

Eclipse operates as a layer-2 blockchain scaling solution built on Ethereum, addressing the network’s scalability challenges. The platform has attracted significant venture capital backing, demonstrating investor confidence in its technology and vision before these recent developments.

In 2024, the company successfully closed a Series A funding round valued at $50 million, co-led by prominent venture capital firms Placeholder and Hack VC. This round brought Eclipse’s total capital raised to $65 million, positioning the project as one of the well-funded layer-2 initiatives in the ecosystem.

Related Industry Movements

The developments surrounding Neel Somani and Eclipse are not isolated incidents in the broader cryptocurrency landscape. In concurrent industry news, Blockfills—a Chicago-based crypto lending platform that processed over $60 billion in trading volume during 2025—underwent leadership changes of its own. The platform’s co-founder Nicholas Hammer stepped down from his CEO position during a period when the firm faced operational challenges and froze deposits and withdrawals.

These leadership transitions across different crypto platforms underscore ongoing scrutiny and evolving standards within the digital asset industry regarding governance, accountability, and organizational conduct.