Datavault AI, a Nasdaq-listed company, saw its shares drop nearly 50%, according to The Block. Before the sell-off, the company said it had been unable to withdraw BTC held on the Biconomy crypto exchange since June 2026. The bitcoin in question came from a September 2025 equity transaction with Scilex Holding. In that deal, Scilex agreed to pay $150 million in BTC to purchase Datavault stock and warrants. Datavault said the BTC was credited to its Biconomy wallet through an off-chain transfer. The report links the sharp move in the company’s stock to the disclosure around the inaccessible bitcoin tied to that transaction.
Datavault AI, a Nasdaq-listed company, saw its shares plunge nearly 50%, according to The Block.
Earlier, the company said it had been unable to withdraw BTC held on the Biconomy crypto exchange since June 2026.
The bitcoin came from an equity transaction with Scilex Holding in September 2025. Under that deal, Scilex agreed to pay $150 million in BTC to buy Datavault stock and warrants, with the BTC credited to Datavault’s Biconomy wallet through an off-chain transfer.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
