Andy Bromberg stands as the (now former) President and co-founder of CoinList. The man has seen an array of token projects come into existence in order to raise funds, but now he’s going to serve as a lead to such a project.
Joining A New Project
Through in an email, a popular crypto media outlet, Bromberg stated that he has opted to leave CoinList, joining Eco as its CEO.
Garret Camp, the co-founder of Uber, has opted to back the project as well. Eco intends to serve as a currency that can be used for everyday transactions. Users will be capable of opening interest-bearing accounts, just as they could with a bank, and allocate portions of their paychecks towards crypto. From there, the users can earn anywhere from 2.5% to 5% interest on their holdings.
Bromberg Convinced Of Eco’s Success
In the email, Bromberg explained that Eco stands as one of the most compelling projects he’s ever seen in both the fintech and crypto space. As such, he described the opportunity to serve as CEO of this project as being simply too good to pass up. Bromberg went further, claiming that Eco is one of the only “real shots” for the world to quickly onboard crypto into its day-to-day use.
He stated that he is convinced that Eco has finally figured out what to do.
CoinList was co-founded by Bromberg back in 2017, where he remained as the President of the firm. CoinList itself was dedicated to simplifying the processes of tokens, overall. CoinList has processed more than $1 billion in transactions, and has recently launched an exchange business, which supports trading in Solana, Celo, and Filecoin. Even so, CoinList has had its fair bit of troubles throughout the years.
Trouble From Too Much Demand
A prime example of this, ironically enough, was caused with how much in demand it is. CoinList had attempted, for the second time, to host a token sale of NEAR token back in mid-August. However, this failed due to the massive amount of traffic it recorded, alongside technical headwinds. Simply put, too many investors were bullish for the coin, and the system simply couldn’t keep up. It’s a very amusing sort of issue, one that, if you had no other choice, is the preferred type of problem any business would want.
1/ The NEAR token sale obviously did not go as planned for many of you who wanted to participate. To the NEAR community, we are truly sorry. We’re working with the NEAR team to find a way to make things right for you.
— CoinList (@CoinList) August 13, 2020
Bromberg did state, however, that he will still serve CoinList in a limited degree, acting as a Special Advisor even as he’s serving as Eco’s CEO. Bromberg stated that there’s a large amount of success at CoinList at this time, saying that the company is “ripping.”
One can only assume, with the tone of the letter, that that’s a good thing.