The ex-head of FTX bought the gold watch of a millionaire who died on the Titanic for $1.5 million
Date: 2024-05-02 Author: Oliver Abernathy Categories: IN WORLD
The former head of the European division of FTX, Patrick Grün, found himself in the center of media attention after purchasing a gold watch at auction at Henry Aldridge & Son, which belonged to the millionaire who died on the Titanic. For the 14-carat watch of American real estate tycoon John Jacob Astor IV, the new owner paid a huge sum of $1.5 million.
Patrick Grün's path
Patrick Grün, a German fintech entrepreneur, once headed FTX Europe in 2022. This unit lasted only eight months, but left its mark on history. After the collapse of the cryptocurrency exchange, Gruen entered into legal proceedings with FTX, which tried to recover a huge amount from him.
Gold Watch and the Path to a Million
Gruen claims the funds he used to purchase the watch came from the sale of his companies and he was unaware of FTX founder Sam Bankman-Fried's fraud. After leaving FTX, Gruen started a new business and launched a cryptocurrency derivatives exchange in Europe.
The gold watch Gruen bought belonged to American real estate magnate John Jacob Astor IV, who remained aboard the Titanic to put his wife on a lifeboat. After his death, precious items were found on his body, including a gold watch.
Return of a Historical Relic
Patrick Gruen expressed the hope that the gold watch he purchased will become available to the public in the United States so that everyone can enjoy this historical relic.
Sam Benkman-Fried, the founder of FTX, agreed to help FTX investors pursue celebrities, thus creating a new twist in the company's history.
This story is not only about wealth and luxury, but also about the tragedy and loss that is associated with the legendary ship, the Titanic.
