Crypto Billionaire Jed McCaleb Bets Fortune on Private Space Station Venture

• Jed McCaleb directs $1 billion from his $3.2 billion XRP fortune into Vast Space for building the first commercial space station.
• Vast Space collaborates closely with SpaceX, utilizing its technology and services to gain a strategic advantage for upcoming NASA contracts.
• Vast Space rapidly expanded, increasing staff from fewer than 200 to around 740 within a year, indicating significant project momentum.

In a recent Bloomberg report, Crypto billionaire Jed McCaleb is said to be investing $1 billion into his startup, Vast Space, to develop the first commercial space station. McCaleb, recognized for founding Mt. Gox, Ripple, and Stellar, is leveraging his crypto-generated fortune. His $3.2 billion wealth, primarily from XRP sales, now funds this ambitious venture.

McCaleb’s Crypto Wealth Funds Space Ambitions

Jed McCaleb’s entrance into the space sector marks a notable shift from his crypto background. Known for establishing Mt. Gox, an early BTC exchange, and Ripple’s XRP token, McCaleb accumulated unique wealth. Between 2014 and 2022, he earned approximately $3.2 billion from XRP and Ripple equity transactions . McCaleb is directing this wealth into Vast Space.

Vast Space was established in 2021, and it’s planning to construct and launch the globe’s initial private space station for commerce. Its first model, called Haven-1, measures approximately 33 feet by 14.5 feet to accommodate a diverse range of products.

 It will have approximately 1600 cubic feet of habitable space which can easily accommodate a crew of four members.  Structure began in January 2024, targeting a launch date in May 2026. Vast Space intends subsequent modules, with Haven-2 expected in orbit by 2028.

Strategic Collaboration with SpaceX

A crucial element of Vast Space’s strategy involves collaboration with SpaceX . SpaceX technology, including docking systems and Starlink-based internet connectivity, will be integral to Vast’s station operations. Vast Space secured agreements for SpaceX to transport astronauts and cargo, pending NASA’s approval.

Vast Space seeks NASA’s lucrative contract to replace the International Space Station (ISS), expected to retire by 2030. Success in this competition, decided by mid-2026, could assure significant revenue from NASA’s usage. Despite competition from entities like Axiom Space and Blue Origin, Vast Space’s financial backing uniquely positions it within this sector.

McCaleb openly acknowledges the significant risks involved, fully prepared to lose $1 billion if the venture fails. Vast Space continues to expand rapidly, growing from fewer than 200 to approximately 740 employees within one year.