Datavault AI shares plunge 50% over inaccessible Bitcoin on Biconomy
Shares of Datavault AI fell nearly 50% after the company revealed it has been unable to withdraw bitcoin held on crypto exchange Biconomy since June, leading to a $92.2 million reduction in reported assets.
Datavault AI stock (DVLT) plummeted nearly 50% following disclosures that the company has been unable to withdraw bitcoin held at cryptocurrency exchange Biconomy since June 2026, according to reports by The Block and CoinDesk. Crypto Briefing noted that the situation highlights the firm's financial instability and the broader risks associated with illiquid crypto assets.[1][2][3][4]
The trapped funds stem from a September 2025 transaction in which Scilex Holding agreed to purchase Datavault shares and warrants for $150 million payable in bitcoin. The assets were credited to Datavault's Biconomy wallet via an offchain transfer.[3][4]
Because the bitcoin on Biconomy remains inaccessible, Datavault stated that an upcoming accounting correction will reduce its reported assets at the end of 2025 by $92.2 million.[2][5]
Key facts
- Datavault AI shares plunged nearly 50% after the firm announced it cannot withdraw its bitcoin from Biconomy.
- Datavault AI has been unable to withdraw bitcoin held on Biconomy since June 2026.
- The bitcoin originated from a September 2025 agreement with Scilex Holding to purchase Datavault shares and warrants for $150 million payable in BTC.
- The bitcoin consideration from Scilex was credited via an offchain transfer to Datavault's Biconomy wallet.
- Datavault said an accounting correction will reduce reported assets at the end of 2025 by $92.2 million.
Sources · 5 sources
- CB
Crypto BriefingArticle ·
Datavault AI shares crash after company says it can’t withdraw its Bitcoin from Biconomy Datavault AI's financial instability highlights the risks of illiquid crypto assets, potentially affecting investor confidence and market trust. The post Datavault AI shares crash after company says it can’t withdraw its Bitcoin from Biconomy appeared first on Crypto Briefing .
Open source - CO
CoindeskArticle ·
Bitcoin treasury Datavault AI plunges 50% after firm says it can’t access its BTC The company said the accounting correction will cut reported assets by $92.2 million at the end of 2025 after bitcoin held on Biconomy could not be withdrawn.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Datavault AI's stock $DVLT plunged nearly 50% after the company said it has been unable to withdraw bitcoin:native maintained at Biconomy crypto exchange since June 2026. The bitcoin originated from a Sept. 2025 equity deal with Scilex Holding, under which Scilex agreed to buy Datavault shares and warrants for $150 million payable in BTC, which was credited via offchain transfer to the company's Biconomy wallet.
Open source - TB
The BlockArticle ·
Datavault AI stock plummets 50% after firm says it cannot withdraw bitcoin tied to $150 million deal The issue centers on a deal with Scilex, under which Scilex agreed to buy shares of Datavault AI for $150 million, payable in bitcoin.
Open source - AI
Analytics Insight@analyticsinmePost on X ·
𝐃𝐚𝐭𝐚𝐯𝐚𝐮𝐥𝐭 𝐀𝐈 𝐒𝐭𝐨𝐜𝐤 𝐏𝐥𝐮𝐧𝐠𝐞𝐬 𝟓𝟎% 𝐚𝐬 𝐁𝐢𝐜𝐨𝐧𝐨𝐦𝐲 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐖𝐢𝐭𝐡𝐝𝐫𝐚𝐰𝐚𝐥𝐬 𝐒𝐭𝐚𝐥𝐥 🚨📉 Datavault AI (DVLT) shares plunged nearly 50% after the company revealed it could not withdraw Bitcoin from Biconomy since June. The firm now faces financial restatements, with potential asset reductions of USD 92.2 million. ₿⚠️ #DatavaultAI #Bitcoin #Biconomy #DVLT #CryptoNews #analyticsinsight #analyticsinsightmagazine Read More 👇 https://t.co/kUJLLOmvEn
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