Datavault AI (DVLT) shares fell nearly 50% after the company said it had been unable to withdraw bitcoin from the Biconomy exchange since June and would have to restate its financial results. The issue traces back to a September 2025 agreement in which Scilex Holding Company agreed to buy $150 million of Datavault shares and warrants using bitcoin, with 1,309.04 BTC credited to Datavault's Biconomy account through off-chain transfers. Datavault had sold 491.4 BTC back to Scilex for about $40.5 million in cash, but a June withdrawal request to an external account remained incomplete. The company said the bitcoin credited through the investment should have been recorded as an amount Scilex owed, so the correction would cut reported assets by $92.2 million at the end of 2025 and $49 million as of June 2026.
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Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/27/2026 | 80,909.77 |
| Change that session | +0.95% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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