What do you do after amassing a fortune from cryptocurrency? Build a space station, of course.
That’s exactly what Ripple co-founder Jed McCaleb is doing, according to a report by Bloomberg.
While crypto investors say they’re “going to the moon” when Bitcoin surges, McCaleb, a longtime industry pioneer, is aiming for the real thing.
“It’s super important that people take this leap from where we are today to this potential world where there’s a lot of people living off the Earth,” McCaleb told Bloomberg. “There’s not that many folks that are willing to dedicate the amount of resources and time and risk tolerance that I am.”
McCaleb’s $1 billion bet, entirely self-funded, is that Vast Space—the California-based aerospace company he founded in 2021—can build and launch a functioning station. The goal is to become a candidate to replace the International Space Station, which is scheduled for decommissioning in 2030.
McCaleb, who co-founded the cryptocurrency exchange Mt. Gox in 2010, Ripple in 2011, and then Stellar in 2014, is now investing his estimated $3.2 billion fortune—largely from XRP sales—into Vast Space.
“This is a big, bold vision by Jed McCaleb,” Ripple co-founder and Executive Chairman Chris Larsen wrote on X. “America used to pursue new frontiers like this before skidding into bureaucracy and doubt. I’m rooting for Vast’s success.”
Vast develops artificial gravity space stations. Many of its employees bring aerospace experience, including refugees from Elon Musk’s SpaceX. These orbital habitats are designed to simulate gravity by rotating to create centrifugal force while offering the comforts of home.
The company recently revealed the final design for Haven-1, its first station module. To put Haven-1 into orbit, Vast is partnering with SpaceX, which will use its Falcon9 rockets to carry Vast’s Haven-1 modules into space. According to the Vast website, the first launch of Haven-1 is scheduled for May 2026 for a two-week mission above the Earth.
Haven-1/Image Vast Space
The concept of artificial gravity stations has long been a staple in science fiction, ranging from Stanley Kubrick’s 1968 sci-fi classic film “2001: A Space Odyssey” to Christopher Nolan’s 2014 film “Interstellar.”
The Haven-1 primary structure qualification article has arrived at our Mojave, CA test site. The team is now conducting lift operations to install the article on the test stand. pic.twitter.com/IDNSVi39d1
— Vast (@vast) January 15, 2025
While Haven-1 is a single module designed to operate independently or dock with SpaceX boosters, the next-generation Haven-2 is being developed as a modular system. Several Haven-2 units could be connected to form a larger, expandable station.
Image: Haven-2/Vast Space
Public-sector space agencies, including NASA and the European Space Agency, are increasingly turning to private-sector companies to get the astronauts and the resources they need into space and back. McCaleb is among a growing number of private citizens stepping up to meet that need, including Musk, Richard Branson, and Jeff Bezos.
They represent a growing roster of private companies and national space agencies—including Axiom Space, Blue Origin, Voyager Space, Airbus, and China’s CNSA—that are racing to build the next generation of space stations tailored for research, manufacturing, tourism, and long-term habitation.
Dragon missions create opportunities for humanity to build a future in space. Falcon 9 launching two @Vast private astronaut missions will continue to help make life multiplanetary https://t.co/7nwpGQhAVz
— SpaceX (@SpaceX) December 19, 2024
A successful launch in May will strengthen Vast’s place in the emerging private space race, and securing a NASA contract would be essential for the company’s long-term viability.
Edited by Andrew Hayward
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Source: https://decrypt.co/311219/ripple-mtgox-founder-bets-billion-space-station
