Cryptocurrency mogul Jed McCaleb is spending $1 billion of his own money to construct an area station. The Ripple co-founder, price about $3.2 billion from XRP holdings, now runs Vast Space, an aerospace company he began in 2021.
Space Station Launch Set For 2026
In accordance with recent reports, Vast Space has accomplished designs for its first station called Haven-1. The station will launch in May 2026 using SpaceX’s Falcon 9 rockets. McCaleb’s company focuses on creating space stations with artificial gravity, a feature mostly seen in science fiction flicks, until now.
Jed McCaleb says he’s prepared to lose an enormous chunk of his fortune on an ambitious quest to construct the world’s first industrial space station https://t.co/hMooi8QBja
— Bloomberg Crypto (@crypto) March 20, 2025
“It’s very necessary that humans transition from where we’re today into this potential society where there are a lot of individuals living outside the Earth,” McCaleb told Bloomberg in an interview.
McCaleb Shifts From Crypto To Cosmos
The cryptocurrency expert has made a dramatic profession change. His company goals to fill the gap left when the International Space Station (ISS) is decommissioned in 2030. Haven-1 will support long-term human stays, scientific research, and should open doors for space tourism.
Today, Vast unveiled the ultimate design for Haven-1, the world’s first industrial space station, setting a recent standard. Guided by visionary designer Peter Russell-Clarke and astronaut Andrew Feustel, we’re pushing the boundaries of life in space with human-first design led by… pic.twitter.com/xDdMzNFnuF
— Vast (@vast) October 10, 2024
Based on the data available, McCaleb is personally funding this massive project reasonably than looking for outside investors. This approach gives him more control over the corporate’s direction and timeline.
Private Corporations Compete For Space Dominance
Vast Space joins other private space firms like SpaceX, Blue Origin, Axiom Space, and Voyager Space. All these firms try to achieve ground within the growing space economy as government agencies increasingly work with private businesses.
XRP market cap currently at $140 billion. Chart: TradingView.com
McCaleb’s fellow Ripple co-founder, Chris Larsen, expressed support for the enterprise on social media platform X:
“This can be a big, daring vision by Jed McCaleb. America used to pursue recent frontiers like this before skidding into bureaucracy and doubt. I’m rooting for Vast’s success.”
Vast headquarters in Long Beach, CA. Image Credit: Bloomberg Businessweek
NASA Contract Could Boost Vast’s Position
Reports suggest Vast Space is competing for a NASA contract that might make it a pacesetter within the space industry. If successful, the corporate plans to expand beyond Haven-1 to create larger modular stations in the longer term.
Vast Space’s work on artificial gravity could solve one among the largest challenges for long-term human presence in space. The corporate’s success might bridge the gap between science fiction and reality, opening recent possibilities for human settlement beyond Earth.
The move from cryptocurrency to space exploration shows how tech wealth is funding recent frontiers. McCaleb’s billion-dollar bet represents one among the most important personal investments in industrial space development.
Featured image from Gemini Imagen, chart from TradingView
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