Datavault AI’s shares fell 49.6% to $0.067 on October 27 on eight times normal trading volume after the company disclosed that its 1,328.43 bitcoin remained locked off-chain at Biconomy. The bitcoin were paid by Scilex as part of a $150 million investment in September 2025 and were never transferred to a blockchain wallet controlled by Datavault AI. Datavault AI sold part of the holdings back to Scilex for $40.5 million, but its request to withdraw the remaining bitcoin, filed in June 2026, had still not been fulfilled by October 26. The company’s assets were successively reduced by $92.2 million as of December 31, 2025, $57.1 million as of March 31, 2026, and $49 million as of June 30, while it reassessed its ability to continue operating.
Source: Read the original article
