#datavaultaicantwithdrawbitcoinfrombiconomy
A massive sell-off turns into a fiasco: shares of AI company Datavault AI (DVLT) have just plunged nearly 50% in a single night!
The reason? The company openly admitted that it has been unable to withdraw more than 1,300 BTC from the Biconomy platform since June, forcing it to deduct $92 million from its balance sheet. It turns out the big transaction announced earlier was just an “off-chain” transfer on the platform, never recorded on the blockchain. Just goes to show: funds held on a platform are just numbers—when it’s time to withdraw them to a cold wallet… “system error”!
What should traders do now?
1️⃣ Burn this into your memory: “Not your keys, not your coins.” If even a company worth millions can find its funds locked up, don’t let your guard down.
2️⃣ Don’t blindly give in to FUD: figure out whether it’s a technical issue or a “leak” story so you can spot good opportunities to sell or buy.
3️⃣ Carefully vet projects: avoid those with opaque financial reports and rely only on real on-chain data.
⚠️ This is not financial advice.
$INIT
$EVAA
$BLESS
A massive sell-off turns into a fiasco: shares of AI company Datavault AI (DVLT) have just plunged nearly 50% in a single night!
The reason? The company openly admitted that it has been unable to withdraw more than 1,300 BTC from the Biconomy platform since June, forcing it to deduct $92 million from its balance sheet. It turns out the big transaction announced earlier was just an “off-chain” transfer on the platform, never recorded on the blockchain. Just goes to show: funds held on a platform are just numbers—when it’s time to withdraw them to a cold wallet… “system error”!
What should traders do now?
1️⃣ Burn this into your memory: “Not your keys, not your coins.” If even a company worth millions can find its funds locked up, don’t let your guard down.
2️⃣ Don’t blindly give in to FUD: figure out whether it’s a technical issue or a “leak” story so you can spot good opportunities to sell or buy.
3️⃣ Carefully vet projects: avoid those with opaque financial reports and rely only on real on-chain data.
⚠️ This is not financial advice.
$INIT
$EVAA
$BLESS
