Counterfactual analysis of FTX’s venture portfolio

Using public bankruptcy filings and reported funding rounds, I reconstructed FTX’s venture positions and estimated their implied value under current valuations. It separates: * Cost basis * Sale value during bankruptcy * Estimated value today * Confidence and assumptions Purely analytical. No speculation. [TheMissingBillions.com](http://TheMissingBillions.com) Open to critique on methodology.