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“Binance was the first to launch, and it was really a success. And when you succeed, you get copycats,” said Katie Talati, co-founder and director of research at crypto-asset manager Arca. “Huobi, OKX, they all launched their own token, and in the future it became the standard. FTX was only launched in the second half of 2019, and at the same time they launched their token.

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