The stock price of Datavault AI ( DVLT ), a NASDAQ-listed company, fell by nearly 50% about four months after the company announced that its Bitcoin ( BTC ) could not be withdrawn from the cryptocurrency exchange B Token Issuance nomy.
On Tuesday (October 27th), the stock price of DVLT closed at $0.067 per share, representing a one-day decline of 49.55%. In addition, trading volume soared significantly, with approximately 244 million shares traded, compared to 30 million shares on the previous trading day.
According to the documents submitted by Datavault AI to the U.S. Securities and Exchange Commission (SEC) on October 26, the company applied in June 2026 to transfer the Bitcoin stored in its B-token issuance nomy Pte Ltd digital wallet to another account.
However, as of October 26th, this withdrawal has not yet been completed. The company has not provided any explanation for the failure, nor have they disclosed how many bitcoins were involved.
$150 million Bitcoin transaction
A Bitcoin withdrawal issue occurred after an investment transaction denominated in Bitcoin was concluded between Datavault AI and Scilex Holding Company in September 2025.
Specifically, Scilex agrees to pay $150 million to purchase 15 million shares of Datavault, as well as a pre-financing warrant that allows for the additional purchase of approximately 263.9 million shares.
This transaction is worth approximately 1,328.43 BTC. At that time, the price of Bitcoin was 112,915.52 US dollars.
According to the documents submitted by the company to SEC, Scilex transferred 1,309.04 BTC to the wallet of Datavault for the issuance of nomy tokens via over-the-counter transfers in September and November 2025. The difference includes the cash advance previously provided.
Datavault also sold 491.431 BTC to Scilex through over-the-counter transfers from September 2025 to January 2026, and as a result, received approximately $40.5 million in cash.
Significant accounting issues
Datavault reveals that its previously released financial statements for the third quarter of 2025, the full year of 2025, and the first and second quarters of 2026 should not be relied upon.
After internal review, the company determined that Bitcoin related to the investment in Scilex should not be listed as a digital asset on the balance sheet.
On the contrary, Datavault will confirm the subscription receivables related to stock issuance.
At the same time, the company acknowledges that it had previously recorded these Bitcoin balances as digital assets and regarded them as a source of liquidity for the company.
As of now, the exact reason for the unsuccessful withdrawal of Bitcoin remains unknown.
