CASE STUDY | Company Loses Access to Bitcoin Holdings Held By a 3rd Party Plunging Shares by 50%
Photo: BitKE
Datavault AI shares fell 49.55% to $0.067 after the Nasdaq-listed company disclosed it has been unable to withdraw Bitcoin held at crypto exchange, Biconomy, since June 2026. The company also plans to restate 4 financial reports after determining that Bitcoin received under a $150 million share deal with Scilex Holding should have been recorded as a receivable rather than a corporate digital asset. The accounting corrections are expected to reduce reported assets by $92.2 million at the end of 2025 and $49 million as of June 2026.
Source: BitKE
