Datavault AI’s shares drop sharply after the company says it has been unable to withdraw bitcoin held on Biconomy since June. Multiple outlets report that the firm attributes the problem to the bitcoin not being accessible for withdrawal, which it says leads to an accounting change.
The coverage links the bitcoin holding to a reported $150 million Scilex deal, described as being payable in bitcoin. Datavault AI also says it will restate financial reporting, including four financial reports, as part of the correction. CoinDesk adds that the accounting update is expected to reduce reported assets by $92.2 million at the end of 2025.
Across outlets, the main differences are in how they frame the business impact: some lead with the inability to access the bitcoin and the resulting stock movement, while others provide additional detail about the specific size of the expected asset write-down and the broader accounting restatement plan. All sources converge on the core issue: restricted access to bitcoin tied to the Biconomy arrangement triggers a financial re-measurement and sharp market reaction.
