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Datavault AI stock drops 50 percent after frozen bitcoin exchange funds

Shares of Nasdaq-listed Datavault AI fell after the company stated it cannot withdraw its bitcoin from cryptocurrency exchange Biconomy and must restate its financial statements.

FTMQ Crypto, written by our newsroom0 views

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Picture: Decrypt

Shares of Nasdaq-listed Datavault AI fell by more than 50 percent to $0.06 on Tuesday after the company disclosed that it cannot withdraw its bitcoin from cryptocurrency exchange Biconomy. Decrypt, CoinDesk, and UToday all reported that the firm has been unable to complete a withdrawal from the exchange since June. [1][2][3][6][8][9][10]

In an October 26 Form 8-K filing, Datavault AI disclosed that it requested an external withdrawal four months ago but has been unable to complete the transfer. Decrypt reported that the filing does not explain why the funds are held up. Decrypt noted that the underlying digital assets trace back to a September 2025 agreement with pain-medicine provider Scilex Holding. [1]

The inability to access the funds has impacted the company's accounting. CoinDesk Tech Security and Binance reported that four financial statements can no longer be relied upon, forcing an accounting correction that will reduce reported assets by $92.2 million at the end of 2025. [1][3][9]

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In short

  • Datavault AI shares dropped over 50 percent to close at $0.06.
  • The company has been unable to withdraw its bitcoin from Biconomy since June.
  • The issue forces an accounting correction that reduces reported assets by $92.2 million at the end of 2025.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

  1. [1]Bitcoin Treasury Datavault AI Says It Can’t Access Its BTC, Stock TanksDecrypt, 6d ago (the report this story comes from)
  2. [2]Bitcoin treasury Datavault AI plunges 50% after firm says it can’t access its BTCCoinDesk, 6d ago
  3. [3]Bitcoin treasury Datavault AI plunges 50% after firm says it can’t access its BTCCoinDesk Tech Security, 7d ago
  4. [4]Bitcoin ETF inflows climb to $176M as BTC rebounds above $80KCointelegraph Main, 6d ago
  5. [5]Bitcoin ETF inflows climb to $176M as BTC rebounds above $80KCointelegraph Bitcoin, 6d ago
  6. [6]Bitcoin Treasury Stock Crashes 50% Amid Withdrawal TroubleUToday Crypto News, 6d ago
  7. [7]Japan Bitcoin Industry takes ¥800 million in BTC to build Lightning payments outside card networksCryptopolitan, 6d ago
  8. [8]Datavault AI Says It Can’t Access Its Bitcoin HoldingsYahoo Finance, 6d ago
  9. [9]Crypto News | Datavault AI Plunges 50% After Disclosing It Can’t Withdraw Bitcoin From Exchange Biconomy, Forcing a $92 Million RestatementBinance, 6d ago
  10. [10]Datavault AI Stock Plunges 50% After Reporting Bitcoin Withdrawal Issues on BiconomyKuCoin, 6d ago

Background

  1. [11]Bitcoin on Wikipedia
  2. [12]Stock tank on Wikipedia

Our newsroom writes these reports with the help of software, from the 12 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

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Earlier reports of ours on the same people and subjects.

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