Datavault AI shares fall nearly 50% after company says BTC on Biconomy remains inaccessible

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.