--- title: "Datavault AI shares drop about 50% after filing says bitcoin could not be withdrawn" description: "Datavault AI (DVLT) shares fell 49.55% to close at $0.067 after a filing showed bitcoin held on the Biconomy exchange could not be withdrawn since June,…" language: en canonical: "https://whycoinmoves.com/en/events/bitcoin-datavault-ai-stock-plummets-50-5585537ca2ec8e" published: 2026-10-28T03:01:01.000Z updated: 2026-10-28T05:36:01.000Z indexable: true --- # Datavault AI shares drop about 50% after filing says bitcoin could not be withdrawn Datavault AI (DVLT) shares fell 49.55% to close at $0.067 after a filing showed bitcoin held on the Biconomy exchange could not be withdrawn since June,… Attributed sources: [The Block](), [CoinDesk]() ## Key facts Datavault AI (DVLT) shares fell 49.55% to close at $0.067 after a filing showed bitcoin held on the Biconomy exchange could not be withdrawn since June, CoinDesk reported. The company said it would restate results and that an accounting correction is expected to cut reported assets by $92.2 million at the end of 2025. The Block reported the firm said it cannot withdraw bitcoin tied to a $150 million deal. Evidence strength: Multiple publishers, 2 publisher group(s) (The Block, CoinDesk). After site detection, observed returns were 5 minutes: +0.02% (Oct 28, 2026, 03:01 → Oct 28, 2026, 03:06, UTC; Gate · USDT); 1 hour: +0.25% (Oct 28, 2026, 03:01 → Oct 28, 2026, 04:01, UTC; Gate · USDT) In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.01% (OKX · USDT; cutoff Oct 28, 2026, 03:01, UTC). ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | +0.02% | +0.02% | 0.00 pp | Oct 28, 2026, 03:01 → Oct 28, 2026, 03:06 | Gate · USDT | | 1 hour | +0.25% | +0.25% | 0.00 pp | Oct 28, 2026, 03:01 → Oct 28, 2026, 04:01 | Gate · USDT | ## Historical hourly baseline | Metric | Value | | --- | --- | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.14% | | 99th percentile of absolute hourly returns | 1.01% | | BTC beta | 1.00 | | Source / cutoff (UTC) | OKX · USDT / Oct 28, 2026, 03:01 | ## Claims and open questions - 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%. - 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. ## Source evidence - [Datavault AI stock plummets 50% after firm says it cannot withdraw bitcoin tied to $150 million deal]() — The Block; published Oct 28, 2026, 03:00; received Oct 28, 2026, 03:01 (UTC). - [Bitcoin treasury Datavault AI plunges 50% after firm says it can’t access its BTC]() — CoinDesk; published Oct 28, 2026, 05:28; received Oct 28, 2026, 05:29 (UTC). ## Recent BTC events and market reactions - [VanEck launches Wealth Builder ETF with indirect Bitcoin exposure]() — Published Oct 27, 2026, 19:18 (UTC) · Multiple publishers (2 publishers) · General news · 5m +0.05% / 1h +0.11% - [CFTC reportedly reopens Polymarket inquiry over US user access]() — Published Oct 27, 2026, 18:29 (UTC) · Single source (1 publisher) · Regulation · 5m +0.09% / 1h +0.08% - [Keystone to destroy 18,835 Bitcoin wallets after factory key theft]() — Published Oct 27, 2026, 18:16 (UTC) · Single source (1 publisher) · Security · 5m +0.08% / 1h +0.03% - [Crypto industry spends about $176 million across more than 100 midterm races]() — Published Oct 27, 2026, 14:34 (UTC) · Single source (1 publisher) · Regulation · 5m +0.04% / 1h +0.17% - [Luxor raises $16 million to expand AI compute trading and hardware business]() — Published Oct 27, 2026, 13:01 (UTC) · Multiple publishers (5 publishers) · Market watch · 5m -0.13% / 1h -0.37% - [Full coin archive]() ## Research for this archive - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Will Bitcoin go back up? Every crash since 2011 and its recovery time]() - [Perpetual funding rates and annualized yield: a 2025 comparison]() - [Bitcoin halving and bull markets: evidence from four halvings]() Evidence levels describe source coverage, not the probability that a report is true. Price moves and their timing cannot establish a cause; minute samples show an observed interval and alert thresholds are heuristics. Explanations are model-assisted, with citations and figures checked. Source titles stay in their original language; full articles are not republished. [Methods and limitations]()