Datavault AI stock cratered 50% after the firm disclosed a $92.2 million asset write-down, citing an inability to withdraw bitcoin held on the Biconomy exchange.
DVLT is experiencing a significant market correction following the disclosure that it is unable to withdraw bitcoin assets held on the Biconomy platform. This operational failure has necessitated a $92.2 million accounting adjustment to the company's 2025 year-end assets, directly impacting investor confidence and triggering a 50% decline in stock value.
The company must perform a $92.2 million accounting correction to its 2025 year-end assets.
The stock plunged 50% due to the company's inability to access its bitcoin holdings on the Biconomy platform.
Bitcoin is the underlying asset that the company cannot access, but the news is company-specific and does not directly affect bitcoin's market price.
Datavault AI Inc. shares plummeted 50% following the announcement of a $92.2 million accounting correction. The company confirmed it is unable to access bitcoin holdings stored on the Biconomy platform, necessitating a significant reduction in reported assets for the 2025 fiscal year.
The stock fell 50% after the company announced it could not access bitcoin holdings on Biconomy, forcing a $92.2 million downward adjustment to its reported assets.