Eclipse, the blockchain firm founded in 2022, has announced a significant leadership change, appointing Vijay Chetty as its new CEO following the departure of founder Neel Somani. The transition comes amidst allegations of sexual misconduct against Somani, who has denied the accusations.

In a statement released today, Eclipse revealed that Vijay Chetty, the company's chief growth officer, will step into the role of CEO. Chetty brings a wealth of experience to his new position, with a decade-long track record in the crypto space and leadership roles at prominent firms such as Uniswap Labs, dYdX Trading, Ripple Labs, and investing experience at BlackRock.

The decision to replace Somani comes less than a week after he addressed the allegations of sexual harassment in a public statement. While acknowledging the accusations, Somani vehemently denied any wrongdoing, stating, "I have never sexually assaulted or harassed any woman." Despite his denial, Somani expressed his intention to reduce his role as the public face of Eclipse.

Although Eclipse did not specify the reasons behind Somani's departure, Web3 venture capital firm Hack VC disclosed on X shortly after the announcement that it had collaborated with other investors to encourage Somani to resign, expressing satisfaction with the outcome. Hack VC, which co-led Eclipse's $50 million Series A funding in March, welcomed the leadership change.

Neel Somani's X profile has been updated to reflect the removal of Eclipse from his description, signaling a shift in his professional affiliations. Additionally, both Eclipse and Somani have not responded immediately to requests for further comment from The Block.

The transition in leadership at Eclipse underscores the challenges facing companies in addressing allegations of misconduct and maintaining trust within the industry. As the blockchain firm navigates this period of change, the appointment of Vijay Chetty signals a new chapter in Eclipse's journey, characterized by a commitment to integrity and accountability.