From Cryptocurrency To Space: Ripple Co-Founder Bets $1 Billion To Build A Space Station

After making billions from cryptocurrency, Jed McCaleb – co-founder of Ripple, Mt. Gox, and Stellar – has decided to bet $1 billion of his own on a bold project: building a space station to replace the International Space Station (ISS).

With Vast Space, McCaleb not only wants to 'go to the moon' in a metaphorical sense of the cryptocurrency community, but actually wants to push humanity further into space. Is this bet a distant dream or truly feasible?

Why Does A Cryptocurrency Billionaire Want To Build A Space Station?

McCaleb is one of the pioneering figures in the cryptocurrency industry. He co-founded the Mt. Gox exchange in 2010, #Ripple in 2011, and Stellar in 2014. Currently, most of his estimated $3.2 billion fortune comes from selling XRP – the cryptocurrency of Ripple.

But instead of continuing to focus on crypto, McCaleb has decided to pour $1 billion of his own money into #VastSpace – the aerospace company he founded in 2021.

According to McCaleb, building a new space station is necessary for the future of humanity:

"It is important to usher humanity into a new era, where people can live beyond Earth."

Currently, the International Space Station (ISS) is expected to cease operations by 2030. This opens the door for private companies to develop new space stations, and McCaleb wants to make Vast Space a leader in this race.

How Does Vast Space's Space Station Project Work?

Vast Space is developing space stations with artificial gravity, a technology that once only appeared in science fiction films like 2001: A Space Odyssey or Interstellar.

These stations rotate to create centrifugal force simulating gravity, making it easier for humans to live and work in space environments.

The company recently announced the final design of Haven-1, the first module in the project. Haven-1 can:

✅ Operate independently or connect with other modules.

✅ Create an artificial gravity living environment, making it easier for astronauts to move and work.

✅ Provide space for research, production, and even space tourism.

To launch Haven-1 into orbit, Vast Space collaborates with SpaceX, using the Falcon 9 rocket to launch this module in May 2026.

In the future, Haven-2 will be an upgraded version with an expandable module design, capable of connecting multiple units to form a larger space station, potentially replacing the ISS.

McCaleb's Ambition And The Private Space Race

McCaleb is not the only billionaire involved in the space race. Elon Musk (SpaceX), Jeff Bezos (Blue Origin), and Richard Branson (Virgin Galactic) are all heavily investing in space projects.

Besides Vast Space, a number of companies and organizations are racing to replace the ISS, including:

🔹 Axiom Space – The first private company to contract with NASA to develop a commercial space station.

🔹 Blue Origin – Jeff Bezos' company is building the Orbital Reef.

🔹 Voyager Space & Airbus – Two companies are collaborating to create the Starlab station.

🔹 CNSA (China) – China is expanding its Tiangong space station.

If Vast Space can successfully launch Haven-1 in 2026, the company has a chance to become a top candidate for funding from NASA and other space organizations.

Can A Private Company Replace The ISS?

NASA and European space agencies (ESA) are gradually transferring the responsibility of developing space stations to the private sector, instead of operating them themselves as before.

With this trend, companies like Vast Space could become infrastructure providers in space in the future, similar to how SpaceX has become NASA's main partner in launching spacecraft.

However, the biggest challenge is still financial. For a space station to operate sustainably, it needs long-term research, production, or space tourism contracts. Otherwise, it may end up like the current ISS – costly and difficult to maintain.

Chris Larsen, co-founder of Ripple, expressed support for McCaleb's project:

"This is a bold vision from Jed McCaleb. The U.S. has pursued such grand goals before only to be hampered by bureaucracy. I hope Vast Space will succeed."

Conclusion: A $1 Billion Bet – Success or Risky Venture?

The fact that a cryptocurrency billionaire is pouring all of his personal assets into a risky space project is unprecedented. But if Vast Space succeeds, McCaleb could become one of the most important figures in the private space industry.

Regardless of the outcome, this project marks a significant shift in the space industry from the public sector to the private sector – where names like SpaceX, Blue Origin, and now Vast Space are gradually replacing traditional organizations like NASA.

The private space race is ongoing. Can Vast Space become the replacement for the ISS, or will this just be a distant dream? The answer will be revealed in May 2026 when Haven-1 officially enters orbit.