Datavault AI disclosed that it had failed to withdraw the BTC held with Biconomy despite requesting the transfer in June. According to a Form 8-K filed with the SEC, the company received 1,309.04 BTC from Scilex in September 2025 and later returned 491.431 BTC in exchange for approximately $40.5 million. Datavault then sought to withdraw the remaining BTC to an external account without providing an explanation for the delay and determined that the assets did not qualify for recognition as its digital assets. DVLT shares fell 49.55% to $0.067 on October 28, taking its market capitalization to about $65 million, as management reassessed whether it could remain in business.
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