Datavault AI Stock Price Plunges Nearly 50% Due to Inability to Extract Bitcoin
2026-10-29 09:22:40
According to CoinMeta, as reported by Coin Bureau, the stock of Datavault AI plummeted by nearly 50% on October 27 due to the revelation that it was unable to withdraw Bitcoin from the exchange. The NASDAQ-listed company, $DVLT, stated that the withdrawal requested in June had not been completed as of October 26. Scilex initially credited 1,309 BTC to the account of Datavault through off-chain transfers, rather than through transactions on the Bitcoin blockchain. Later, Datavault sold 491 BTC back to Scilex for approximately $40.5 million in cash. The company plans to restate four sets of financial statements, and it is estimated that the correction will result in a reduction of $92.2 million in assets reported at the end of 2025. Management is also re-evaluating the company's ability to continue operating. On October 27, the stock price of Datavault closed at 6.7 cents, a decrease of 49.55%.
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