Jed McCaleb's Vast Aims to Replace ISS with Haven-1 by 2026

Jed McCaleb, renowned for his roles in founding Mt. Gox and co-creating Ripple, has set his sights on a new frontier with his latest venture, Vast. The company is developing Haven-1, a commercial space station, with plans to launch it by May 2026. This ambitious project is part of McCaleb's broader vision to expand human presence into a multi-planetary species, aligning with the aspirations of other prominent figures in the space industry.

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'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. McCaleb's ventures in the crypto industry have netted him billions of dollars, providing the financial backing for his ambitious space station project.

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. 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 risk-taking nature and hyperrational tendencies have been 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. McCaleb believes that expanding human presence beyond Earth is crucial for the future of humanity. The next two years will determine if McCaleb’s space gamble pays off—or if it becomes just another bold but failed experiment.