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Titanic’s Grandest Timepiece Finds a New Custodian
Ruholamin Haqshanas
Last updated:
May 2, 2024 06:33 EDT
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2 min read
In a remarkable turn of events, the former head of FTX Europe, Patrick Gruhn, has acquired a true relic from the Titanic’s ill-fated voyage – the 14-karat gold pocket watch that once belonged to the ship’s wealthiest passenger, John Jacob Astor IV.
Astor, an American real estate tycoon, was among the elite few who had the means to afford the luxurious accommodations aboard the unsinkable ship. Tragically, his life was cut short when the Titanic collided with an iceberg in 1912. His lifeless body, along with his personal effects – the pocket watch, cufflinks, a diamond ring, and a gold pencil – were later recovered from the icy waters.
Now, over a century later, Gruhn has secured this priceless piece of Titanic history, shattering records with a staggering $1.5 million purchase. The former FTX executive, who recently settled with the bankruptcy estate, revealed that he used funds from the sale of his own companies to acquire the historic timepiece as a gift for his wife, Maren.
Gruhn’s plans for the coveted artifact are equally remarkable. Rather than keeping it hidden away, the couple intends to display the pocket watch in museums, allowing the public to marvel at this tangible link to the Titanic’s ill-fated maiden voyage.
This acquisition comes on the heels of the ongoing FTX saga, which has captivated the crypto world. As the bankruptcy proceedings continue, the estate has outlined its goal to initiate repayments to customers by the end of 2024, a glimmer of hope for those affected by the exchange’s collapse.
Meanwhile, the disgraced FTX founder, Sam Bankman-Fried, has filed an appeal against his conviction and 25-year sentence, a move that has further fueled the ongoing legal drama surrounding the fallen crypto empire.
As the Titanic’s legacy continues to capture the imagination of the world, Gruhn’s acquisition of this priceless relic stands as a testament to the enduring allure of the ill-fated ship and the stories it holds.