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2024/05/03 02:18

Ex-FTX Exec Gruhn Makes Historic $1.46M Titanic Pu

Patrick Gruhn, a former executive at FTX Europe, recently purchased a historic pocket watch from the Titanic for a record-breaking amount.

Sam Bankman-Fried, the founder of FTX US, is serving a lengthy sentence for orchestrating a financial fraud.

Gruhn intends to relaunch FTX Europe under a new name to distance himself from the scandal.

In the aftermath of Sam Bankman Fried’s recent sentencing, founder of US FTX, a captivating auction event has seized global attention, starring former FTX Europe executive Patrick Gruhn.
In the auction, the ex-executive of UK-based FTX acquired a 112-year-old gold pocket watch that was recovered from the body of John Jacob Astor IV, the wealthiest man on the Titanic, for a record-breaking £1.175 million. 

This purchase, while a fascinating piece of history, comes amid the dramatic fall of FTX in the United States, showing us a tale of two vastly different legacies.

Gruhn’s Connection with the Titanic Watch
Born in Germany, Patrick Gruhn, a crypto law expert, successfully bought the watch from Henry Aldridge & Sons, in Devizes, Wiltshire. Famous for honing and auctioning lost, memorable, and precious items from the ill-fated Titanic, the 112-year-old gold watch is the most expensive piece to be sold off the Titanic. 

Gruhn gave more specific details about why he wanted the watch. He talks about feeling a connection with the original owner of the watch John Jacob Astor IV and his own family, both sharing similar roots in Germany and having decided to migrate to America, unified by their successes and origin

Moreover, Gruhn shares a personal sentimental motive behind wanting to buy this watch. His wife had long been obsessed with the Titanic, especially the story of John Jacob Astor IV.

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