Datavault AI Shares Plunge Nearly 50% Over Trapped Bitcoin on Biconomy Exchange

Datavault AI shares plunged between 37% and nearly 50% to roughly $0.07 after revealing it cannot withdraw its Bitcoin holdings from exchange Biconomy. A withdrawal request has sat unanswered for four months since June, prompting the invalidation of four quarters of financial statements. Datavault acquired 1,309.04 BTC under a $150 million September 2025 equity deal with Scilex Holding Co. and later sold 491.431 BTC for $40.5 million, leaving the rest stranded. Reclassifying the Bitcoin as subscription receivables will cut total assets by $92.2 million for 2025 and $49.0 million for Q2 2026.