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Datavault AI shares crash 50% after company unable to withdraw Bitcoin from exchange
Datavault AI shares (DVLT) crashed nearly 50% on Tuesday, October 27, after the Nasdaq-traded company disclosed in an SEC filing that it has been unable to withdraw its Bitcoin from cryptocurrency exchange Biconomy for approximately four months. The firm applied for the withdrawal of Bitcoin to another account in June 2026 but failed to complete it as of October 26. Datavault AI did not elaborate on the reasons for the failure or the amount of Bitcoin involved. The company also stated that its previously issued financial statements for Q3 2025, full year 2025, and Q1-Q2 2026 should not be relied upon, as an internal review determined that Bitcoin related to a $150 million investment deal with Scilex Holding Company should not be classified as a digital asset on the balance sheet.
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