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Jed McCaleb, known for co-founding Ripple and Stellar, is now investing his crypto wealth into a space exploration startup called Vast Space.
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The company aims to launch Haven-1, the first commercial space station, by 2026, focusing on productivity and mission success.
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Despite past controversy within the XRP community, McCaleb’s initiative has drawn support from figures like Ripple co-founder Chris Larsen.
Jed McCaleb invests in Vast Space’s Haven-1, the first commercial space station, leveraging his XRP wealth to pioneer off-Earth productivity and innovation.
Former Ripple Exec Invests XRP Gains in Off-Earth Mission
Vast CEO Max Haot clarified that this isn’t a luxury concept for tourists. Instead, the focus is on productivity, crew cohesion, and mission success.
He added that the station is designed to support sovereign astronauts and privately funded individuals in achieving meaningful goals in orbit.
“We are not building a luxury hotel in space, we are applying design to enhance crew cohesion, productivity, safety, communication to help sovereign astronauts and self-funded private individuals achieve their important orbital mission objectives,” Haot said.
Launched in 2021, Vast Space is working to create a station equipped with artificial gravity and next-generation infrastructure.
The team plans to use components developed by Elon Musk’s SpaceX, including docking systems for the Dragon capsule. It also intends to 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 large portion of that 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.
XRP Community Backlash Resurfaces Against McCaleb
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 XRP holders the option to convert their tokens to Stellar Lumens.
“I didn’t do that at all. I told the Ripple community I was leaving Ripple and no longer believed in the project. I did that *before* I sold my XRP. The intent was to let people front run me. The alternative was to sell without telling people. Is that better?,” McCaleb explained on X.
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, it’s an intriguing development that illustrates how crypto investments can significantly drive real-world development across diverse fields.
Conclusion
McCaleb’s investment in Vast Space not only underscores his entrepreneurial spirit but also reflects a growing trend of crypto entrepreneurs exploring avenues beyond traditional digital assets. As the project progresses, it may redefine the intersection between space exploration and blockchain technology.
