Max met Peter at a free lecture on the currency market held in Terman. The lecture only had six attendees and Max approached Peter afterwards to tell him he was going to start a company. Peter had lots of friends that had been involved in startups, most of which had blown up catastrophically. Still, they were eager to try it themselves. Peter had experience in finance and Max had experience in crypto, and after a great deal of brainstorming, they decided to do something with encrypted money.