Bitcoin Treasury Stock Crashes 50% Amid Withdrawal Trouble
BTC when published $80,792Now $80,595 ▼ −0.24% since it was published
The shares of Nasdaq-traded Datavault AI (DVLT) have declined almost 50% following the company's announcement that it failed to withdraw its Bitcoin (BTC) from the cryptocurrency exchange Biconomy for about four months. On Tuesday, Oct. 27, the DVLT shares finished the day's trading session at a value of just $0.067 per share, losing 49.55% in a single day. Additionally, the volume of trades surged, with around 244 million shares traded versus 30 million in the previous session. Per Datavault AI's filing on October 26 with the U.S. Securities and Exchange Commission (SEC), the company applied for the withdrawal of its Bitcoin from a digital wallet held by Biconomy Pte. Ltd. to another account in June 2026. However, as of October 26, it had failed to complete this withdrawal.
First reported by U.Today. This page is a short excerpt; the full text is theirs.
