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Jed McCaleb, a name synonymous with the early days of cryptocurrency as a co-founder of Ripple, the ill-fated Mt. Gox exchange, and open-source payments network Stellar, is making a leap from the digital realm to the cosmos.
According to a Bloomberg report, McCaleb, who was Ripple's CTO until 2013, is personally investing $1 billion into his aerospace venture, Vast Space, with the goal of developing a privately-owned space station capable of succeeding the International Space Station (ISS).
His company, Vast Space, founded in 2021, is focused on designing and launching orbital habitats, notably featuring artificial gravity technology. This ambitious project aims to position Vast Space as a frontrunner to replace the aging ISS, which is slated for decommissioning by 2030.
McCaleb, who amassed an estimated $3.2 billion fortune primarily through the sale of his XRP holdings, believes in the transformative potential of off-world living. "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," he stated, highlighting his willingness to commit significant resources, time, and risk to this vision.
Vast Space recently unveiled the design for its initial module, Haven-1, scheduled for its first mission in May 2026. This two-week orbital test will be facilitated through a partnership with Elon Musk's SpaceX, which will provide the Falcon 9 rockets for launch. Interestingly, Vast Space is also incorporating technology from SpaceX, including docking adapters and Starlink internet connectivity for the station.
McCaleb's venture joins a growing list of private companies vying to establish a foothold in the commercial space station market, as public agencies increasingly look to the private sector for space-based infrastructure. Competitors include the likes of Axiom Space and Blue Origin. However, Vast Space distinguishes itself with McCaleb's substantial self-funding, giving it a unique advantage in this capital-intensive industry.
The success of Vast Space hinges on securing a crucial NASA contract to replace the ISS, a potential multi-billion dollar opportunity. While the path to building and operating a space station is fraught with challenges, McCaleb's willingness to stake a significant portion of his crypto-derived wealth on this endeavor marks a fascinating intersection of the cryptocurrency revolution and the new era of private space exploration.
