In November of 2016, journalist Morgen Peck showed up at her friend Molly Webster's apartment in Brooklyn, told her to take her battery out of her phone, and began to tell her about The Ceremony, a moment last fall when a group of, well, let's just call them wizards, came together in an undisclosed location to launch a new currency. It's an undertaking that involves some of the most elaborate security and cryptography ever done (so we've been told). And math. Lots of math. It was all going great until, in the middle of it, something started to behave a little...strangely.

Reported by Molly Webster. Produced by Matt Kielty and Molly Webster. Denver Ceremony station recordings were created by media maker Nathaniel Kramer, with help from Daniel Cooper. 

Support Radiolab by becoming a member today at Radiolab.org/donate.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.