Datavault AI shares plunge nearly 50% as company says it has been unable to withdraw Bitcoin held at Biconomy since June.

TechFlow reported on October 28, citing The Block, that Datavault AI (DVLT) shares plunged nearly 50% after the company disclosed it had been unable to withdraw Bitcoin held at cryptocurrency exchange Biconomy. The Bitcoin involved originated from an equity deal with Scilex Holding in September 2025, in which Scilex agreed to purchase Datavault AI shares and warrants with Bitcoin worth $150 million. The assets were transferred off-chain to the company's Biconomy wallet.

Source: TechFlow