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Neel Somani, Founder of Ethereum Layer-2 Blockchain Eclipse, has been replaced as Chief Executive Officer (CEO) due to accusations of sexual misconduct. Eclipse Labs announced Vijay Chetty, the company’s Chief Growth office (CGO), as the new CEO, taking over Somani’s responsibilities.
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The UK government’s Insolvency Service has shut down a crypto advisory firm for accounting negligence and the loss of investors’ money. The firm seemingly claimed to help users with investments while promoting crypto schemes that resulted in millions lost.
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Ethereum (ETH) has faced some regulatory turmoil amid rumors of a rejection of ETH spot exchange-traded funds (ETF) in May.
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A Texas-based crypto company, Lejilex, along with the Crypto Freedom Alliance of Texas (CFAT), has filed a lawsuit against the US Securities and Exchange Commission (SEC), alleging ‘regulatory overreach’ and seeking ‘clarity on the classification of digital assets.
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