datavault

【A company holds Bitcoin, but suddenly can’t withdraw it! Its stock plunges nearly 50% in a day ⚠️】

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Does buying Bitcoin mean you truly own it and can use it whenever you want? The experience of U.S.-listed company Datavault AI has sent a warning to the market.

📉 On October 27, Datavault AI’s stock plunged about 49.6%, closing at $0.067. The reason: the company disclosed that it had been unable to transfer out Bitcoin held on the crypto platform Biconomy ever since it applied to withdraw it in June this year.

The assets were related to a $150 million stock transaction. The counterparty, Scilex, was supposed to pay the subscription price in Bitcoin, but the funds were credited to an account through an internal transfer on the platform, rather than being transferred directly on the Bitcoin blockchain.

To make matters worse, Datavault AI also needs to restate its financial statements. The company expects its adjusted assets to decrease by about $92.2 million as of the end of 2025, and by about $49 million as of the end of June 2026. The company had previously treated the Bitcoin in question as a source of funds available to support its operations.

⚠️ This isn’t just about fluctuations in Bitcoin’s price; it’s about whether the assets can actually be accessed. Having Bitcoin on the books doesn’t mean the funds can necessarily be withdrawn successfully. And accounting issues can also affect investors’ assessment of a company’s financial condition.

📌 For ordinary investors, evaluating a “Bitcoin treasury company” means looking beyond how many BTC it holds. You also need to consider whether the assets can be verified and withdrawn, and whether the company has enough cash to keep operating.

In the crypto market, the numbers matter—but the real assets and risks behind those numbers deserve even closer scrutiny.
#DATAVAULT #DatavaultAI #DatavaultAI披露无法从Biconomy提取比特币

Coins on the books, but you can’t withdraw them—and the stock gets cut in half first: Datavault plunged 49.55% yesterday, closing at just $0.067. About 244 million shares changed hands, eight times the usual volume. The root of the problem: last year, Scilex spent $150 million to buy its shares, while 1,309 $BTC were merely moved around on Biconomy’s internal ledger—they never went on-chain. In June this year, it tried to move them to an external wallet, but still hasn’t managed to withdraw them. Four financial reports have been voided and must be restated, and assets could be written down by as much as $92.2 million. Coins on the books aren’t the same as coins you actually own—that lesson is worth remembering again today: A. An exchange’s internal ledger is a ticking time bomb; sooner or later, another one will blow up. B. This is one company’s own mess—don’t blame $BTC .
$BTC $ETH $SOL
#Datavault #比特币 #Exchange

U.S.-listed Datavault AI (DVLT) filed an 8-K on 10/26: In June this year, it requested to withdraw $BTC held on the Biconomy exchange to an external wallet. Four months later, it still hasn’t been withdrawn.

These coins came from Scilex’s September 2025 stock subscription, paid with BTC worth approximately $150 million. An off-exchange book transfer credited 1,309.04 BTC; 491.431 BTC were later sold back for approximately $40.5 million in cash, leaving about 818 BTC on the books.

The company now says these BTC do not qualify as its own digital assets and has reclassified them as a subscription receivable. Its financial statements for the four quarters from Q3 2025 through Q2 2026 can no longer be relied upon and must be restated. The stock price plunged in response.

A balance on an exchange is just a promise. If you can’t withdraw it, the coins aren’t yours. $BTC is currently worth about $80,800, up approximately 1.5% in the past 24 hours.

#比特币 #Datavault #SelfCustody