[apwn]

I rebuilt FTX’s venture and equity investments using public bankruptcy filings, sale motions, and reported funding rounds.

The goal was to answer a simple question:

If those investments were still held today, what would they be worth based on the latest reported valuations?

A few notes:

• All figures are sourced and linked • Each estimate has a confidence label • Assumptions are documented in the methodology section • If anything looks incorrect, I would genuinely appreciate corrections

This is an independent reconstruction using public information, not speculation.