Datavault AI disclosed that, since June, it has not completed the withdrawal of Bitcoin from Biconomy, with its share price plunging nearly 50%
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AT A GLANCE
Datavault AI said the Bitcoin in its Biconomy account had still not been withdrawn, and its share price plunged nearly 50%。
Article
Datavault AI said it was unable to withdraw Bitcoin from Biconomy, with its share price plunging nearly 50%According to BlockBeats,October 28，Datavault AI（DVLT）filed with October 26 8-K document disclosed that the company this year June applied to transfer Bitcoin in its cryptocurrency exchange Biconomy account to an external account, but the withdrawal had still not been completed as of the filing date. Following the disclosure, the company's share price plunged nearly 50%.
The relevant Bitcoin originated from 2025 September equity transaction with Scilex Holding. Under the agreement, Scilex agreed to pay 150000000 USD in Bitcoin to subscribe for Datavault shares and warrants, with the relevant Bitcoin credited to its Biconomy digital wallet through an off-chain transfer.
Original link https://m.theblockbeats.info/flash/374047
Key points
01
According to BlockBeats,Datavault AI filed October 26 on 8-K.
02
Datavault AI The disclosure stated that the company this year June applied to transfer Bitcoin in its Biconomy account to an external account.
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As of the filing date, the withdrawal had still not been completed.
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The original report stated that, following the disclosure,Datavault AI its share price plunged nearly 50%。
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The relevant Bitcoin originated from 2025 September Datavault AI equity transaction with Scilex Holding.
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Under the agreement, Scilex Holding agreed to pay 150000000 USD in Bitcoin to subscribe for Datavault AI shares and warrants.
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The relevant Bitcoin was credited through an off-chain transfer to Datavault AI's Biconomy digital wallet.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Simply put,Datavault AI stated that Bitcoin credited to its exchange digital wallet was still not successfully withdrawn after it applied to transfer it to an external account. Following the disclosure, its share price experienced a sharp decline of nearly 50%.
Why it matters to readers
The event also involves an equity transaction denominated in 150000000 USD, the incomplete withdrawal of the relevant Bitcoin, and a nearly 50%decline in the company's share price; whether the transfer can ultimately be completed warrants attention.
Beginners should distinguish between “being credited to a wallet” and “having been transferred to an external account”: the original report only confirms that the relevant Bitcoin was credited to Biconomy wallet through an off-chain transfer, and states that the external withdrawal had not been completed.
Risks and unknowns
The evidence provides only BlockBeats' account and does not include the full text of the 8-K document.
The specific quantity of the relevant Bitcoin was not disclosed.
The reason the withdrawal was not completed was not disclosed.
It cannot be confirmed whether the withdrawal was completed after the document was filed.
The statistical period and market data source for the share-price decline were not provided.
No Datavault AI、Biconomy or subsequent statement from Scilex Holding was found.
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8-K filing
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