Ripple Co-Founder Jed McCaleb Invests Billions in Space Station Venture

Jed McCaleb, a prominent figure in the cryptocurrency space and co-founder of Ripple, has set his sights on a new venture far beyond digital assets. His latest focus is on Vast Space, a startup aiming to launch Haven-1, the world’s first commercial space station, by 2026. This ambitious project is set to revolutionize space exploration and productivity in orbit.

Vast Space, founded in 2021, is developing a station equipped with artificial gravity and next-generation infrastructure. The company plans to utilize components developed by Elon Musk’s SpaceX, including docking systems for the Dragon capsule, and integrate an internet connection powered by Starlink. If successful, Vast could play a critical role in replacing the aging International Space Station and potentially win a contract with NASA.

McCaleb is expected to invest substantially in the project, with a significant portion of the funding coming from the wealth he gained by selling XRP tokens. Despite the potential risks, McCaleb appears fully committed. He acknowledged the possibility of losing up to $1 billion if the project fails but believes the opportunity is worth the gamble. “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. There’s not that many folks that are willing to dedicate the amount of resources and time and risk tolerance that I am,” McCaleb reportedly said.

McCaleb left Ripple in 2013 following internal disagreements and later launched Stellar. He originally held about 9% of the total XRP supply and sold off his stake between 2014 and 2022, earning roughly $3.3 billion. His actions triggered backlash within the XRP community, with some accusing him of damaging Ripple’s value. However, McCaleb denied those claims, stating he had publicly disclosed his departure before selling his holdings. He also pointed out that he had given XRP holders the option to convert their tokens to Stellar Lumens.

Despite the bad blood between McCaleb and the XRP community, Ripple co-founder Chris Larsen voiced support for the space project. He described it as a step forward and that it marks America’s return to bold innovation. “America used to pursue new frontiers like this before skidding into bureaucracy and doubt. I’m rooting for Vast’s success,” Larsen stated.

Overall, this development reflects how crypto investments can significantly drive real-world development across diverse fields. The success of Vast Space could pave the way for more innovative projects in the space industry, leveraging the wealth generated from cryptocurrency investments.