#DatavaultAICantWithdrawBitcoinFromBiconomy
🚨 DATAVAULT AI ($DVLT) CRASHES 49.55% — BITCOIN WITHDRAWAL DISPUTE! ⚠️
Datavault AI shares plunged to $0.067 on October 27 after the company disclosed that it had been unable to withdraw Bitcoin from Biconomy since June. Nearly 244 million shares traded.
🔎 WHAT HAPPENED?
🔹 Scilex transferred 1,309.04 BTC to Datavault’s Biconomy account under a $150M investment deal.
🔹 Datavault later exchanged 491.431 BTC for approximately $40.5M in cash.
🔹 A requested Bitcoin withdrawal in June 2026 remained incomplete as of the company’s October 26 filing.
📉 FINANCIAL IMPACT
Datavault expects to restate four reporting periods, with reported assets reduced by:
• $92.2M as of December 2025
• $49M as of June 2026
The company also warned that its financial statements should no longer be relied upon until corrected.
⚠️ THE BIG LESSON: Holding crypto balances on an exchange does not guarantee immediate access to those funds.
₿ Does this case highlight the risks of exchange custody and corporate Bitcoin treasuries?
💬 Share your thoughts below!
$BTC #Bitcoin #CryptoNews #BitcoinTreasury
🚨 DATAVAULT AI ($DVLT) CRASHES 49.55% — BITCOIN WITHDRAWAL DISPUTE! ⚠️
Datavault AI shares plunged to $0.067 on October 27 after the company disclosed that it had been unable to withdraw Bitcoin from Biconomy since June. Nearly 244 million shares traded.
🔎 WHAT HAPPENED?
🔹 Scilex transferred 1,309.04 BTC to Datavault’s Biconomy account under a $150M investment deal.
🔹 Datavault later exchanged 491.431 BTC for approximately $40.5M in cash.
🔹 A requested Bitcoin withdrawal in June 2026 remained incomplete as of the company’s October 26 filing.
📉 FINANCIAL IMPACT
Datavault expects to restate four reporting periods, with reported assets reduced by:
• $92.2M as of December 2025
• $49M as of June 2026
The company also warned that its financial statements should no longer be relied upon until corrected.
⚠️ THE BIG LESSON: Holding crypto balances on an exchange does not guarantee immediate access to those funds.
₿ Does this case highlight the risks of exchange custody and corporate Bitcoin treasuries?
💬 Share your thoughts below!
$BTC #Bitcoin #CryptoNews #BitcoinTreasury
