Datavault AI shares drop about 50% after filing says bitcoin could not be withdrawn

What sources claim

• Datavault AI said it had been unable to withdraw bitcoin from Biconomy since June and would have to restate its financial results; the stock closed at $0.067, down 49.55%, with about 244 million shares traded, CoinDesk reported.
• Datavault AI said the accounting correction is expected to reduce reported assets by $92.2 million at the end of 2025 and by $49 million as of June 2026, according to CoinDesk.
• The Block reported that the issue centers on a deal under which Scilex agreed to buy $150 million of Datavault AI shares, payable in bitcoin, and that Datavault AI stock plummeted about 50%.

Still unresolved

• What Biconomy says about Datavault AI's withdrawal request and the bitcoin backing the account; CoinDesk reported it had not received a response as of Asian afternoon hours Wednesday.
• What the restated financial figures will show for the 1,309.04 BTC credited to Datavault's Biconomy account and the 491.4 BTC sold back to Scilex; the filing's finalized restatement would confirm the treatment.

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