Datavault AI shares tumble 50% after a Bitcoin withdrawal stalls.
Datavault filed a Form 8‑K on October 26 noting it received $150 million in Bitcoin from Scilex on September 25 2025.
The deal represented about 1,328 BTC, but only 1,309.04 BTC arrived after a 19.39 BTC cash‑advance deduction.
It sent back 491.431 BTC to Scilex in September 2025 and January 2026 for roughly $40.5 million cash, leaving the rest in Biconomy’s off‑chain wallet.
A withdrawal request made in June remained unfulfilled at the time of filing.
Shares fell 49.55% to $0.067 on October 28, low $0.060, market cap about $65 million; after‑hours trading rose to $0.071 and management is reviewing whether the firm can stay in business without the Bitcoin counted as cash.
Can crypto‑treasury firms reliably serve as cash substitutes for listed companies?
#Bitcoin #Crypto #FinTech #Investing
Datavault filed a Form 8‑K on October 26 noting it received $150 million in Bitcoin from Scilex on September 25 2025.
The deal represented about 1,328 BTC, but only 1,309.04 BTC arrived after a 19.39 BTC cash‑advance deduction.
It sent back 491.431 BTC to Scilex in September 2025 and January 2026 for roughly $40.5 million cash, leaving the rest in Biconomy’s off‑chain wallet.
A withdrawal request made in June remained unfulfilled at the time of filing.
Shares fell 49.55% to $0.067 on October 28, low $0.060, market cap about $65 million; after‑hours trading rose to $0.071 and management is reviewing whether the firm can stay in business without the Bitcoin counted as cash.
Can crypto‑treasury firms reliably serve as cash substitutes for listed companies?
#Bitcoin #Crypto #FinTech #Investing
