Ripple Co-Founder Uses XRP Earnings to Fund Space Station

• Ripple and Stellar co-founder Jed McCaleb is investing a significant portion of his cryptocurrency earnings to fund Haven-1, the first private space station, set to launch by 2026. 
• McCaleb made billions from selling XRP and is willing to risk up to $1 billion on this venture.
• The co-founder faced criticism from some XRP supporters, who accused him of damaging Ripple’s value. He defended himself, stating he was transparent about his exit and that holders had the option to convert their tokens to Stellar Lumens.
  

The co-founder of Ripple is set out to invest a huge chunk of his crypto earnings into launching the first ever commercial space station, Haven-1, by 2026.

Jed McCaleb, co-founder of Ripple and Stellar, is using his cryptocurrency wealth to fund space exploration. His new company, Vast Space, is set out to launch Haven-1, the first ever private space station, by 2026.

McCaleb, who made a huge amount of money, running in billions, from selling XRP, is providing significant financial support for the space project. Despite the risks, he said he is fully committed and accepts the possibility of losing up to $1 billion. He also looks at the potential and believes the rewards make it a risk worth taking.

The co-founder was the mind behind Mt. Gox and XRP, and if this space project goes successful, his company, Vast Space LLC, would likely secure a valuable NASA contract next year to replace the International Space Station. But if it fails, he’d likely also lose $1 billion. 

He manages his fortune partly through two foundations, which held $3.3 billion in assets by the end of 2023, this is funded by his own contributions. At 50, McCaleb believes that advancing space settlement is very important, and he is willing to invest the necessary time, money, and effort to make it happen. He said, “There are not that many folks who are willing to dedicate the amount of resources and time and risk tolerance that I am.” 

Mixed Reactions from the XRP Community

After leaving Ripple in 2013 over some internal disagreements, he founded Stellar. He owned about 9% of all XRP in total, and he gradually sold all his holdings between 2014 and 2022, which made him about $3.3 billion. 

Some members of the XRP community blamed him for harming Ripple’s market position, although he defended his actions, claiming that he had been transparent about all matters that related to his exit. He also highlighted that holders had the option to convert their assets to Stellar Lumens. 

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