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‘Users Need Safety’: Former SpaceX Manager Raises $4.2M for Crypto Platform Stackup

by admin June 20, 2025



In brief

  • A former mission manager at SpaceX has raised $4.2 million for crypto startup Stackup.
  • The platform seeks to give businesses “centralized control of decentralized assets” using account abstraction.
  • The company’s seed funding round saw participation from Y Combinator and Digital Currency Group.

Stackup, an enterprise-grade platform for managing on-chain business operations, said on Friday that it secured $4.2 million in seed funding.

The Los Angeles-based firm, which previously built account abstraction tech for Coinbase and Trust Wallet, said it will use the funds to further develop its platform, which gives businesses “centralized control of decentralized assets,” according to the company’s website.

Stackup’s seed funding round was led by venture capital firm 1kx, with participation from Y Combinator and Digital Currency Group, among three other firms. 

Stackup was co-founded by CTO Hazim Jumali, an Ethereum Foundation grantee, and CEO John Rising, a former senior mission manager at Elon Musk’s SpaceX. In the overlap between crypto and aerospace engineering, Rising told Decrypt that precision is key.



Four months after he graduated from college, while working at Virgin Galactic, Rising was standing next to a pilot’s family when a mishap “caused the vehicle to break up in the sky.” Despite extensive designing and testing, the pilot lost his life.

“We had spent so much time making sure the machine works perfectly that we disregarded the most important part of the system as a whole: that a human is operating it,” Rising said. “Builders in crypto tend to really think about security, which is about preventing unauthorized access, when really users need safety.”

Account abstraction, which debuted on Ethereum’s mainnet in 2023, allows users to create non-custodial wallets as programmable smart contracts. Through features including easy wallet recovery and signless transactions, Ethereum co-founder Vitalik Buterin once said that the goal is to try and make crypto wallets as simple as using email.

Because account abstraction allows for wallets with custom logic, Rising said Stackup supports features that businesses need, such as spending limits for accounts, the ability to specify who can receive funds, or reviewing transactions in bulk before sending them with one click. 

Among other features, like the ability to connect a bank account to a wallet for seamless transfers, the goal is for Stackup to prevent catastrophic on-chain failures, Rising said.

For the average SpaceX launch, $60 million worth of cargo may be on the line, Rising said. Earlier this year, a security incident at crypto exchange Bybit resulted in a $1.4 billion hack.

“Imagine if SpaceX had 20 launch failures?” he asked. “It’s the same amount of loss in dollar terms.”

Although 3,000 individuals are involved in a SpaceX launch, Rising said that the team at Stackup is much more limited. Currently, the company is piloted by a group of four.

Edited by James Rubin

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Elon Musk Pivots From DOGE to SpaceX Mars Plan, Eyeing Self-Sustaining Colony by 2029

by admin May 31, 2025



In brief

  • Elon Musk outlined a bold plan to colonize Mars, targeting a self-sustaining colony by the end of the decade.
  • Musk’s plan includes building 1,000 Starships a year to support large-scale Mars transport.
  • Reusable rockets and orbital refueling are vital to Musk’s plan for a multiplanet species.

Fresh off his official departure from the Department of Government Efficiency, or DOGE, Elon Musk unveiled a bold plan to colonize Mars and make humanity a multiplanet species on Thursday during a presentation at Starbase, Texas, the newly incorporated city established by SpaceX.

Musk outlined plans for an interplanetary transport system designed to ferry humans to the Red Planet, with the ultimate goal of establishing a self-sustaining city there. Though he gave no timetable during his speech, in March, he predicted that humans would live on Mars within the next 20 years.

“Progress is measured by the timeline to establishing a self-sustaining civilization on Mars. That’s how we gauge progress here at Starbase,” Musk told the audience. “Each launch—especially in the early days of Starship—is about learning what’s needed to make life multiplanetary and improving Starship until it can ultimately carry hundreds of thousands, if not millions, of people to Mars.”

Musk’s renewed push to reach Mars comes after he stepped down from his role as head of DOGE under President Trump. Elon Musk’s ambition to colonize Mars has been central to his outlook for humanity’s future since he first proposed the endeavor.

The plan to reach Mars relies on SpaceX’s Starship and orbital refueling, with uncrewed missions set to begin in 2026, aiming to establish the first human settlements on Mars by 2029. Musk estimated that one million tons of cargo will be needed to establish a self-sustaining Mars colony, involving thousands of Starship launches.

“We’re now at the point where we can produce a ship roughly every two or three weeks,” Musk claimed. “We don’t always produce one that often because we’re making design upgrades, but ultimately we’re aiming for the ability to produce 1,000 ships a year—three ships a day.”

In addition to the massive Starship, SpaceX’s roadmap to Mars centers on key elements including the new Raptor 3 engine for greater efficiency, a reusable heat shield to survive atmospheric reentry on both Earth and Mars, and orbital refueling to extend range and maximize payload capacity.

Raptor 3 (sea level variant)

Thrust: 280tf
Specific impulse: 350s
Engine mass: 1525kg
Engine + vehicle-side commodities and hardware mass : 1720kg pic.twitter.com/zormSroZyh

— SpaceX (@SpaceX) August 3, 2024

Musk said SpaceX will use Tesla Optimus robots to lay the groundwork and construct the Mars colony. The first human missions are set for 2027, with the Arcadia Planitia region targeted as a potential site for the initial settlement. Long-term goals include transporting at least 1 million tons of infrastructure, building multiple launch and landing facilities, and using Starlink satellites to maintain communication.

Ultimately, Musk said, the objective is to establish a self-sustaining civilization on Mars as a backup for humanity.

“At that point, we’ve achieved civilizational resilience where Mars can potentially come to the rescue of Earth if something goes wrong or maybe Earth could come to the rescue of Mars,” he said. “But having two planets that are both self-sustaining and strong, I think, is going to be incredibly important for the long-term survival of civilization.”



Once Mars is colonized and serves as a stepping stone, Musk said, humanity could begin journeying to other planets in the solar system—and eventually, to other star systems.

Orbital refueling and propellant transfer, Musk said, are critical to the success of reaching Mars.

“Think of it like aerial refueling for planes—but in orbit. It’s never been done before, but it’s technically feasible,” he said. “Two Starships would dock, and one would transfer fuel and oxygen. Most of the mass is oxygen—about 80%—with just over 20% fuel. You send a Starship to orbit full of payload, then send others to refill its propellant.”

Despite a controversial foray into politics and setbacks including a Starship exploding over Turks and Caicos in January and another exploding on Wednesday, Musk appears committed to the mission of reaching Mars—a mission he said isn’t just about technology, but about shaping the future of humanity.

“We can be out there among the stars, making science fiction no longer fiction,” he said.

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