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An absurdist parable for crypto: Why a former banker is marketing a fake token

by Isabel Woodford

April 9, 2019, 2:37PM EDT  ·  3 min read

Quick Take

  • Former BNP Paribas banker Colin Platt is the owner and co-creator of PTK, a parody token making deliberately outrageous claims
  • But beyond the satire, Platt says his token has a serious message about the crypto community’s blind faith in ICOs and STOs
  • The banker-turned-consultant says he hopes to bring more rationalisation, scepticism, and risk awareness to the crypto space
  • Among the lessons he’s learnt are how easy it is to manipulate the market – and how deep the tribalism goes

by Isabel Woodford

April 9, 2019, 2:37PM EDT  ·  3 min read

A “grey” paper. A token “Phoundation.” A chart comparing the token to the value of the earth. A ton of fake trading. And what do you have?

PTK – the token whose value sits at $3.6 quadrillion and whose supply is owned by Colin Platt. It’s the Fyre Festival of ICOs, and intentionally ridiculous.