Datavault AI Stock Plunges 50% Following Failed Biconomy Bitcoin Withdrawal Attempt

TL;DR Datavault AI shares plunged nearly 50% after the company disclosed that it has been unable to withdraw its Bitcoin from the Biconomy exchange since June. The issue involves 1,309.04 BTC transferred through Biconomy as part of a $150 million investment agreement with Scilex Holding Company. Datavault AI will have to restate its financial statements, reducing its reported assets by $92.2 million at the end of 2025 and by $49 million as of June 2026. Datavault AI (DVLT) shares plunged 49.55% after the company disclosed that it was unable to withdraw Bitcoin from the Biconomy exchange and would have to restate its financial statements due to the accounting treatment of those assets.

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