The co-founder and now former President of CoinList, Andy Bromberg has seen a number of token projects being established for the purpose of raising funds. Now, he has decided to serve as a leader for one similar project in the crypto and blockchain space. Bromberg sent an email to a prominent crypto media outlet and revealed that he had decided to leave CoinList. Instead, he was now taking on the position of CEO at Eco. The co-founder of Uber, Garret Camp has also chosen to back the same crypto project. The purpose of Eco is to become a currency that can be used for making everyday transactions.
When using Eco, users will be able to open interest-bearing accounts, the same way you would do with a bank. Plus, they would be free to allocate a part of their paychecks to crypto. This will enable users to earn interest on their crypto holdings, which could be anywhere between 2.5% to 5%. Bromberg explained in the email that Eco seems to be one of the most compelling projects that he has come across and he hasn’t seen one like it in both the crypto and fin-tech space. Therefore, he said that the opportunity of taking on the position of the chief executive for this project was too good to miss.
He also said that Eco was actually one of the ‘real shots’ that the world had for boarding the crypto train and integrating it into daily use. Bromberg said that he was convinced that Eco had figured out what needs to be done. He had co-founded CoinList back in 2017 and he had served as the President of the company. CoinList had been dedicated to simplifying the token processes as a whole and during the last three years, the company has managed to process more than $1 billion transactions.
As a matter of fact, it recently also launched its exchange business that currently supports trading in Filecoin, Celo, and Solana. Even then, CoinList has dealt with its fair share of problems in the last three years. Ironically, one of the biggest issues it faced was its high demand. Back in mid-August, CoinList made a second attempt to host a sale of the token NEAR on its platform. But, this resulted in failure due to the huge amount of traffic it had received, along with technical headwinds. This means that there was an excessive number of bullish investors for the NEAR token and the system wasn’t able to keep up.
This issue came off as rather amusing and most businesses would prefer to have this kind of problem over any other. However, Bromberg added that he will be working at CoinList in a limited degree. While serving as CEO at Eco, he will act as a Special Advisor for CoinList. He said that CoinList was enjoying massive successes at this time and also had a good future. Considering the tone of the letter, it can be assumed it is a good thing, but no one knows how it will turn out.