Jed McCaleb's Vast Aims for 2026 Space Station Launch, Eyes NASA Contract

Jed McCaleb, the serial entrepreneur behind the Mt. Gox crypto exchange and co-founder of Ripple, has unveiled new details about his ambitious space station venture, Vast. The company aims to launch Haven-1, a commercial space station currently under construction, into orbit by May 2026. This project is part of McCaleb's broader vision to expand human presence into a multi-planetary species.

McCaleb's startup, Vast, is poised to compete for a lucrative contract from the US National Aeronautics and Space Administration to replace the International Space Station. The contracts are expected to be awarded in mid-2026. If Vast secures this contract, it will solidify its position in the space industry. However, failure to win the contract or any setbacks could result in significant financial losses for McCaleb, potentially wiping out $1 billion from his net worth and casting doubt on the commercial viability of his space station firm.

McCaleb is known for his risk-taking nature and hyperrational tendencies, as described by his long-time friend and former business partner. His aspirations to colonize other planets align with those of other prominent figures in the space industry, such as Elon Musk, the CEO of SpaceX. McCaleb believes that expanding human presence beyond Earth is crucial for the future of humanity.

Vast is constructing its spacecraft using components developed by SpaceX, including a docking adapter and an in-space internet system that will provide WiFi on the station via Starlink. The company has also booked SpaceX flights to send its hardware into orbit and deliver crew to its station, with SpaceX agreeing to carry astronauts for Vast pending NASA's approval. Vast's close ties to SpaceX are further strengthened by the hiring of key personnel who previously worked at SpaceX, including Max Haot, who now serves as Vast’s CEO and president.

Vast faces stiff competition from other companies, including Axiom Space, Voyager Space Holdings, Lockheed Martin, and Blue Origin, founded by Jeff Bezos. One of Vast's long-term goals is to create artificial gravity to replicate Earth-like conditions, addressing the health issues faced by astronauts who spend extended periods in space. The International Space Station (ISS) already uses technology to recycle wastewater into potable water and carbon dioxide into breathable oxygen, but Haven-1 will not feature this due to its short-term crew visits. Vast plans to incorporate this technology into its future model, Haven-2, by 2028, which will be designed for longer-term stays.

McCaleb's journey into the space industry has been unconventional. After founding the internet file-sharing service eDonkey in the 2000s, he went on to establish Mt. Gox in 2010, which became the world’s largest Bitcoin exchange until a $400 million hack in 2014 sent the company into bankruptcy. Following his departure from Mt. Gox, McCaleb created the XRP crypto token on the Ripple protocol in 2012 and later founded the Stellar network in 2014, which now boasts an $8.7 billion market cap. McCaleb's ventures in the crypto industry have netted him billions of dollars, providing the financial backing for his ambitious space station project.