Ripple Co-Founder Invests in Space Station by Selling XRP
Date: 2025-03-25 Author: Henry Casey Categories: BUSINESS
Former Ripple, Mt. Gox, and Stellar co-founder Jed McCaleb has decided to move beyond blockchain projects and turn his attention to space development. In 2021, he founded Vast Space, a startup aimed at building the first commercial space station, Haven-1. The station is scheduled to launch in 2026, and funding will be provided primarily through proceeds from the sale of XRP tokens.
According to Vast CEO Max Hauth, Haven-1 will serve both government space agencies and private individuals who are able to cover the costs of the flight themselves. He emphasized that the project is not a space hotel, but is being created for practical purposes - to ensure the productive and safe work of the crew in orbit.
The station is being developed using SpaceX technologies. In particular, it is planned to use docking systems for Dragon capsules, as well as Starlink satellite communications, which will ensure reliable interaction with Earth. One of the key features of Haven-1 will be the presence of artificial gravity, which will significantly increase the comfort and functionality for the crew.
McCaleb is funding the project through profits from the sale of his XRP reserves. He said that he believes it is important to facilitate humanity's transition to life beyond Earth. "Very few people are willing to spend that much time and money, taking on serious risks. But someone has to do it," he said.
However, the crypto community has mixed feelings about McCaleb's actions. After leaving Ripple in 2013, he sold his entire XRP supply (about 9% of the total supply), earning about $3.3 billion. Many users accused him of harming the cryptocurrency rate, arguing that such large-scale sales could have negatively affected the market.
In response to criticism, McCaleb said that he had notified the community of his departure in advance and only then began selling assets. He also added that he offered XRP holders the opportunity to exchange their tokens for Stellar Lumens.
Despite the controversy, another Ripple co-founder, Chris Larsen, expressed support for McCaleb's space initiative. According to him, such projects return the United States to the spirit of innovation and exploration of new horizons, which was once the basis of national progress.
