Dragonfly partners say Eclipse CEO had a history of sexual allegations

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As a crypto investor with experience in the industry, I believe that it’s crucial for due diligence to be conducted thoroughly before investing in any project or team. In the case of Eclipse and Neel Somani, Dragonfly Capital’s decision to pass on the investment based on sexual harassment allegations sends a strong message about the importance of ethical conduct.

As a researcher, I’ve recently considered the investment opportunity with Eclipse, led by CEO Neel Somani. However, upon uncovering allegations of sexual harassment against him, Dragonfly Capital has decided against moving forward with this potential investment.

In a post dated May 10th on X, Haseeb Qureshi, the managing partner of Dragonfly Capital, revealed that his venture capital firm chose not to invest in Eclipse during their evaluation process for this L2 solution.

While investigating, Dragonfly uncovered a past filled with allegations of sexual misconduct against Neel Somani, Eclipse’s founder.

As a thorough researcher, I would express it this way: “Based on my comprehensive investigation, if I had come across this information with only a cursory examination, there’s no doubt that seasoned investors would have also uncovered it.”

“Eclipse, the quickest L2 (Layer 2) solution on Ethereum‘s network, is fueled by the Solana Virtual Machine and prioritizes privacy, security, and decentralization.”

According to the managing director’s declaration, there has been a persistent history of questionable actions by Somani, who faces allegations that span from inappropriate online conduct to severe claims of sexual misconduct.

I was taken aback when I discovered that despite his questionable past, Somani managed to secure investments and went on to sell millions worth of a pre-launch token in secondary markets. This turn of events left me feeling rather embarrassed.

On the same day, the Eclipse leader defended himself against allegations of sexual assault on X, asserting that he had no history of such behavior.

Over the past week, I’ve faced severe accusations on Twitter regarding inappropriate conduct. However, I want to clarify that these claims are unfounded. Nevertheless, given the gravity of sexual misconduct allegations, it is essential to address them with care and consideration. You can find my response in the following thread:

— neelsalami.eth 🌑 (@neelsalami) May 9, 2024

I acknowledged the burden my ongoing involvement with Eclipse’s public image might place on the team and their project, the L2 solution. I felt it was only fair that they not bear the weight of this situation on their reputations. Therefore, I decided to step down from my role as Eclipse’s public representative.

As an analyst, I’m stepping back momentarily from my public representation of Eclipse. The seasoned executives at Eclipse possess the necessary abilities to manage these duties effectively. This action enables these debates to progress unhindered and ultimately reveals the facts regarding the recent allegations.

Eclipse issued a distinct announcement, reaffirming their dedication to upholding superior personal and ethical conduct, such as gender equality and respectful treatment. The situation will be closely supervised by them, and they will disclose information about the other top-level Eclipse executives overseeing the company.

Sam Thapaliya, a co-founder of Eclipse, emphasized their unwavering dedication to maintaining the utmost ethical and responsible practices in all aspects of their business.

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2024-05-10 14:04