Datavault AI stock price plunges nearly 50%, claiming it has been unable to withdraw Bitcoin deposited with Biconomy since June

On October 28 that, according to The Block, Datavault AI (DVLT) stock plummeted nearly 50% after the company disclosed it was unable to withdraw Bitcoin stored in its Biconomy cryptocurrency exchange wallet. The Bitcoin in question originated from an equity transaction with Scilex Holding in September 2025, when Scilex agreed to purchase Datavault AI shares and warrants with Bitcoin valued at $150 million, and the corresponding assets were deposited into the company's Biconomy wallet via an off-chain transfer.