A serial tech entrepreneur who once revolutionised cryptocurrency is now racing toward the stars. Behind closed doors, Jed McCaleb, who co-founded both Ripple and Mt. Gox, is quietly steering his latest venture into uncharted territory. His goal? To redefine humanity’s future in space.
With a track record of high-risk, high-reward bets, McCaleb’s newest project could either cement his legacy or cost him billions. Here’s what we know and why it matters.
Why Space? McCaleb’s Vision for a Multi-Planetary Future
Jed McCaleb isn’t content with Earthbound achievements. In 2021, he founded Vast, a startup aiming to launch commercial space stations. His ambition? To accelerate humanity’s transition into a “multi-planetary species.”
According to a March Bloomberg interview, McCaleb sees space as the ultimate frontier for solving resource scarcity and overpopulation. “It’s super important people take this leap,” he said, drawing parallels to SpaceX’s Elon Musk. Unlike short-term space tourism, Vast focuses on permanent habitats, starting with its Haven-1 station set for 2026.
McCaleb’s confidence stems from his history of disruptive tech ventures. Yet critics question his leap from crypto to aerospace. For him, however, the logic is clear: both industries demand bold innovation and tolerance for colossal risk.
NASA Contracts
Vast’s immediate target is a NASA contract to replace the International Space Station (ISS). The agency plans to award contracts by mid-2026, and McCaleb’s team is racing to meet deadlines.
Success would secure lucrative government funding and establish Vast as a space industry leader. Failure, however, could erase $1 billion from McCaleb’s net worth, Bloomberg reports. Competitors like Blue Origin and Lockheed Martin loom large, intensifying pressure.
Despite the risks, McCaleb remains unfazed. “There aren’t many folks willing to dedicate the resources and risk tolerance I am,” he asserted. His strategy? Leverage partnerships with SpaceX and poach top talent from Musk’s team.
How is McCaleb borrowing Musk’s Playbook?
Vast’s success hinges on collaboration with SpaceX. The company uses SpaceX’s Dragon capsule docking adapters and Starlink for in-space internet. Additionally, SpaceX rockets will ferry Vast’s hardware and possibly crew to orbit.
Key hires strengthen this bond. Max Haot, Vast’s CEO, previously led SpaceX’s Starlink operations. This insider expertise streamlines technical hurdles and aligns Vast with SpaceX’s proven systems.
McCaleb’s partnership strategy mirrors his crypto playbook: build on existing infrastructure, then innovate. While SpaceX handles launch logistics, Vast focuses on station design, including a critical artificial gravity system.
Artificial Gravity
Long-term space habitation requires replicating Earth’s environment. Vast plans to generate artificial gravity by rotating Haven-1, counteracting zero-gravity health risks like organ damage.
Future models, like Haven-2 (slated for 2028), will integrate advanced life support systems. These include water recycling and carbon dioxide conversion features omitted from Haven-1 due to its shorter missions. McCaleb and Haot even vow to personally test flights, underscoring their commitment.
Such innovations could redefine space living. Yet they also demand flawless execution. One engineering misstep could derail both safety and profitability.
From Bitcoin to Orbit: McCaleb’s Unconventional Journey
McCaleb’s path to aerospace defies convention. After dropping out of Berkeley, he pioneered peer-to-peer tech with eDonkey, then pivoted to crypto with Mt. Gox and Ripple.
Though Mt. Gox collapsed post-sale, Ripple and Stellar made him a billionaire. Controversies followed, like his messy Ripple exit and XRP sales, but each venture honed his risk-taking ethos.
Now, he’s channelling those lessons into space. “He’s slightly eccentric in his risk tolerance,” admits Sam Yagan, a long-time collaborator. Yet McCaleb’s bets often pay off: Stellar alone now boasts an $8.7 billion market cap.
What’s Next for McCaleb?
With Haven-1’s launch deadline approaching, Vast faces relentless technical and financial hurdles. McCaleb’s all-in approach leaves little room for error.
Win or lose, his impact is undeniable. By merging crypto’s disruptive spirit with aerospace ambition, he’s challenging industry giants and redefining what’s possible. As NASA’s decision looms, one truth remains: In the high-stakes race for space, McCaleb thrives where others hesitate.
Will Haven-1 become humanity’s next home among the stars? Only time and relentless innovation will tell. For now, McCaleb’s gaze stays fixed upward, betting billions on a vision far beyond Earth.
Written By Fazal Ul Vahab C H
