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Morning Edition · Wednesday, October 28, 2026Published at 1:45 AM EDT · New York
Datavault AI Shares Fall About 50% After It Says It Cannot Withdraw Bitcoin From the Biconomy Exchange
The Nasdaq-listed company will cut reported assets at the end of 2025 by $92.2 million and now records the bitcoin as a receivable from Scilex Holding, the counterparty that paid it in coin.
Datavault AI, a Nasdaq-listed company that held bitcoin as a treasury asset, said it has been unable to withdraw that bitcoin from Biconomy, a cryptocurrency exchange, since June. Its shares fell about 50%, CoinDesk reports. The company wil…
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Treasury Companies Face Custody Reckoning
Public companies that hold crypto through exchanges or counterparties rather than verifiable on-chain control will keep producing restatements and equity losses, pushing corporate treasuries toward regulated custodians.
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