The buyer of the most expensive piece of Titanic memorabilia ever sold has been identified as former FTX Europe head Patrick Gruhn.

Patrick Gruhn, the former head of FTX Europe, has paid nearly $1.5 million for a gold pocket watch recovered from the body of the Titanic’s richest passenger, The Wall Street Journal has reported.

A gold Waltham pocket watch belonging to the richest person aboard the ill-fated 883-foot steamship sold for roughly $1.5 million at a Henry Aldridge & Son auction in the U.K. over the weekend, setting a new record price for Titanic artifacts.

A relic of Astor’s life, which was cut short when the ship hit an iceberg and sank into the Atlantic Ocean, now holds the world record for the most valuable piece of Titanic memorabilia. His 14-carat gold pocket watch sold for £1.

Other notable items in the auction included the valise holding the band leader's violin and a pocketbook documenting the Titanic’s voyages.

The pocket watch was owned by John Jacob Astor, a member of one of America's richest families. Astor died when the Titanic sunk in 1912.

Former executive Patrick Gruhn bought the timepiece, which was found on the body of the Titanic’s richest passenger, property magnate John Jacob Astor IV.

A gold pocket watch that belonged to the Titanic’s wealthiest passenger has sold for almost $1.5 million, over seven times more than what it was predicted to sell. The watch, which belonged to John Jacob Astor IV,

It's been well over 100 years since the Titanic sunk in the Atlantic Ocean on April 14, 1912, but it continues to fascinate people to this day. While some are just really big fans of the blockbuster starring Kate Winslet and Leonardo DiCaprio that came out in 1997,

A gold pocket watch that survived the sinking of the Titanic has a new owner: a survivor of crypto’s own biggest wreck. Patrick Gruhn, the former head of FTX's European business, paid