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Seven months ago when I predicted that IEOs would soon overtake ICOs as the primary fundraising method for blockchain projects, I touted BitMax as a potential contender to become the next Binance. The platform was innovative, the team was very competent, and everything seemed to be going in the right direction for the little known exchange. I had high hopes for BitMax -- I thought that maybe they could soon be a real contender to Binance.

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