Cointime

Download App
iOS & Android

Inside ‘eccentric’ Ripple founder’s multibillion-dollar space station plan

Validated Media

The serial entrepreneur who founded the Mt. Gox crypto exchange and co-founded Ripple has shared new details about his ambitious space station company Vast, which he hopes will help expand the human race into a multi-planetary species.

In a March 20 interview with Bloomberg, Jed McCaleb confirmed that Vast is on track to launch Haven-1 — a commercial space station still under construction — into orbit by May 2026.

If McCaleb’s startup succeeds, it will be better positioned to win a lucrative contract from the US National Aeronautics and Space Administration to replace the International Space Station. Contracts are expected to be handed out in mid-2026.

If Vast fails or loses the NASA contract to a competitor, McCaleb could see $1 billion wiped from his net worth and the commercial future of his space station firm would be in doubt, according to the report. 

“There are not that many folks who are willing to dedicate the amount of resources and time and risk tolerance that I am,” McCaleb told Bloomberg.

McCaleb is known to be a “deliberate risk-taker” with hyperrational tendencies, according to long-time friend and former business partner Sam Yagan, who added:

“He’s maybe slightly eccentric in his willingness to take what you and I would see as a lot of risks.”

McCaleb’s aspiration to put humans on other planets draws similarities to multibillionaire and SpaceX CEO Elon Musk.

“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,” said McCaleb, who founded Vast in 2021.

Vast is building its spacecraft with components developed by SpaceX, such as a docking adapter to connect SpaceX’s Dragon capsule to Vast’s station and an in-space internet system that will provide WiFi on the station via Starlink.

McCaleb’s firm has also booked SpaceX flights to send its hardware into orbit and deliver crew to its station, and SpaceX has agreed to carry astronauts for Vast as long as NASA gives its go-ahead.

Vast’s close ties to SpaceX stem partly from it hiring key personnel who previously worked there, including Max Haot, who now serves as Vast’s CEO and president.

Vast is competing with the likes of Axiom Space, Voyager Space Holdings, Lockheed Martin and the Jeff Bezos-founded Blue Origin to win the next major NASA contract.

McCaleb also wants to create ‘artificial gravity’

Part of Vast’s long-term plans is to create artificial gravity replicating Earth-like conditions by accelerating or rotating the spacecraft, as many ISS workers who have spent lengthy periods in space have reported organ damage.

The ISS also uses a technology that recycles wastewater into potable water and carbon dioxide into breathable oxygen. Haven-1 won’t feature this due to its short-term crew visits, but Vast plans to incorporate it into its future model, Haven-2, by 2028, which will be designed for longer-term stays.

Both McCaleb and Haot say they’re willing to board flights themselves.

McCaleb has followed an unconventional pathway into the space industry.

After McCaleb’s first success with the internet file-sharing service eDonkey in the 2000s, his next notable achievement was founding Mt. Gox in 2010.

His time at Mt. Gox was short-lived, with McCaleb selling a majority stake in 2011. Mt. Gox went on to become the world’s largest Bitcoin exchange until 2014 when a $400 million hack sent thecompany into bankruptcy.

Several months later, McCaleb began his next venture — creating the XRP crypto token on theRipple protocol in 2012.

McCaleb owned 9% of the XRP tokens from the onset but sold the majority of them after 2013 when he left Ripple following disagreements with the company’s other founders.

He has netted billions of dollars from those XRP sales and Ripple equity between 2014 and 2022.

McCaleb also founded the Stellar network in 2014 — a fork of the Ripple protocol — along with the Stellar crypto token, which now boasts an $8.7 billion market cap, CoinGeckodatashows.

Comments

All Comments

Recommended for you

  • US Official: Trump Asks Negotiation Team to Pause Contact with Iran

    On August 19, it was reported that a U.S. official stated that Trump has requested senior government envoys to pause contact with Iran. Additionally, a source revealed that White House officials have recently communicated a shift in their strategy towards Iran to political allies—moving from a focus on 'quickly striking Iran' to a long-term strategy of 'choking Iran's throat.' U.S. officials indicated that Trump has instructed his negotiation team, which includes Vice President Pence, Special Envoy Hook, and Trump's son-in-law Kushner, to temporarily refrain from engaging with Iran. This directive came after some 'positive discussions' had previously taken place between the U.S. and Iran. There has been no response from the Iranian side regarding this matter.

  • SEC Approves Crypto Asset Regulation Proposal via Seriatim Voting

    On August 19, a Fox Business crypto reporter posted on the X platform that, according to an SEC spokesperson, the committee approved the proposal through 'seriatim' voting, meaning that commissioners voted separately outside of a public meeting. The committee had originally scheduled to review the 'Regulation Crypto Assets' in a public meeting last Friday but abruptly canceled it citing 'unforeseen scheduling issues.' According to the disclosed details, the framework will allow certain crypto asset issuances to raise funds without SEC registration, including small-scale issuances of up to $5 million over four years or an annual issuance limit of up to $75 million. The proposal will also establish a conditional safe harbor mechanism for certain crypto assets. Once the 'core management efforts' of the issuer are completed, the relevant crypto assets may no longer be subject to the same securities regulatory constraints.

  • Anthropic Expected to IPO in Weeks

    On August 19, it was reported that Anthropic expects to conduct an IPO in a few weeks. The company's revenue in the second quarter more than doubled compared to the first quarter.

  • SEC Proposes Exemption for Certain Digital Asset Offerings from Securities Registration

    On August 19, the U.S. Securities and Exchange Commission (SEC) proposed to exempt certain digital asset offerings from the requirement to submit securities registration statements, with exemption limits set at a maximum of $5 million and $75 million respectively. The proposal includes specific requirements for issuers, such as submitting financial statements and meeting ongoing disclosure obligations, while establishing safe harbor provisions to exclude the relevant assets from the definition of 'investment contracts' under securities law. This proposal comes at a time when landmark cryptocurrency legislation is stalled in Congress, with the SEC Chair emphasizing the need to develop 'forward-looking' rules that can protect the digital asset industry, while legislative action remains essential.

  • Spot Prices of Some Storage Chips Decline

    On August 18, according to 21st Century Business Herald, an unusual signal has emerged since the second quarter of this year—some spot distributors of storage chips are willing to lower prices for certain models of NAND storage chips. Third-party organizations in the flash memory market have pointed out that since July, there has been a continuous low-price sales phenomenon for multi-brand eMMC products, leading to a significant price inversion between spot and contract prices, with the spot price of 64GB eMMC already showing a downward trend. eMMC is the standard storage chip for consumer electronics such as set-top boxes, smart TVs, and entry-level smartphones. Against the backdrop of overall high prosperity in the storage industry, this price inversion in this category is particularly striking. This actually indicates that the current storage chip market is heading towards a polarized situation: some consumer markets are facing a scenario where downstream customers cannot bear the price increase of chips, especially evident in the entry-level spot market, where in recent months, distributors have been willing to exchange price for volume to obtain cash flow; meanwhile, the price increase trend in the cloud-side AI or enterprise-level storage market continues, influenced to some extent by the signing of long-term contracts.

  • U.S. Stock Market: Storage Sector Opens Lower, SK Hynix Drops 7.4%, SanDisk Falls 8%

    On August 18, the U.S. storage sector opened lower and continued to decline, expanding its losses after several days of gains. Micron Technology fell 6.33%, SK Hynix dropped 7.41%, SanDisk decreased by 8.05%, Western Digital declined 7.10%, Seagate Technology fell 7.58%, and Kioxia ADR dropped 10.63%.

  • Spot Silver Drops 2% Today, Currently Priced at $64.46 per Ounce

    Spot silver has decreased by 2% today, currently priced at $64.46 per ounce.

  • BTC Surpasses $65,000

    Market data shows that BTC has surpassed $65,000, currently priced at $65,005.31, with a 24-hour increase of 2.17%. The market is highly volatile, so please ensure proper risk management.

  • Zhejiang Humanoid Robot Innovation Center Releases 'Co-evolution Theory'

    The Zhejiang Humanoid Robot Innovation Center has released the practical path of the 'Co-evolution Theory', proposing a collaborative interaction among intelligent algorithms, hardware entities, and development toolchains to advance humanoid robots from demonstration scenarios to large-scale practical operations. Currently, Zhejiang Humanoid has established a complete collaborative product system: the SPIRE intelligent technology system achieves a 94% success rate for complex long-range tasks, with precision assembly accuracy reaching 0.03mm; the NAVIAI hardware matrix covers three product categories: biped humanoids, dual-arm operations, and wheeled arm circulation, with a domestic component localization rate of 91%; the EvoStack toolchain streamlines the entire process from development to operation and maintenance, supporting large-scale batch replication. Related products have been implemented in various fields including industry, services, education, and data collection, with the clothing sector securing the world's first bulk order of 2,000 units. Zhejiang Humanoid will showcase its full-scenario solutions at the 2026 World Robot Conference (2026 WRC).

  • AMD Shares Drop 5.53%, Intel Shares Fall 7.35%

    On August 18, the stock prices of the CPU duopoly widened their losses, with AMD shares dropping by 5.53% and Intel shares falling by 7.35%.