Bitcoin treasury Datavault AI plunges 50% after firm says it can’t access its BTC
The company said the accounting correction will cut reported assets by $92.2 million at the end of 2025 after bitcoin held on Biconomy could not be withdrawn.
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Summary
- Datavault AI shares plunged nearly 50 percent Tuesday after the company disclosed that it had been unable to withdraw bitcoin from the Biconomy exchange since June and would restate its financial results.
- The company said bitcoin credited through Scilex Holding Company’s $150 million investment should have been recorded as an amount owed by Scilex, reducing reported assets by $92.2 million at the end of 2025 and $49 million as of June 2026.
- Datavault had treated the bitcoin as funding available to sustain operations, but the unresolved withdrawal now requires the company to reassess that assumption.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
