Datavault AI shares fell 49.55% to $0.067 after an SEC filing said the company has been unable since June to complete a request to withdraw Bitcoin from the Biconomy exchange. The company will restate four financial reports, cutting reported assets by up to $92.2 million, after reclassifying Bitcoin from a $150 million Scilex stock deal as a subscription receivable. Management is reassessing its going-concern status because it had counted the Bitcoin as a source of liquidity, and collecting what Scilex owes is uncertain. Scilex separately signed a binding term sheet in June 2026 to buy 837 BTC held in Datavault's Biconomy wallet for $50 million, subject to a definitive agreement. Datavault stock later bounced to near $0.085.
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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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