Mmastodon BusinessCrypto first seen 3 h ago, last 3 h ago, peak #6

Datavault AI shares plunge after Bitcoin withdrawal failure

Original: Datavault AI shares fall nearly 50% after company says it can't withdraw Bitcoin Datavault AI said bitcoin held on excha

Datavault AI shares fell nearly 50% after the company disclosed that Bitcoin held on the exchange Biconomy since June could not be withdrawn. The issue forced a financial restatement cutting reported assets by $92.2 million. The sharp decline highlights the risks companies face holding crypto assets on exchanges rather than in self-custody.

Why now: Investors reacted sharply to the surprise asset writedown and the company's inability to access its Bitcoin holdings.

Datavault AIBiconomyBitcoin

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Evidence

• Datavault AI shares fall nearly 50% after company says it can't withdraw Bitcoin Datavault AI said bitcoin held on exchange Biconomy since June could not be withdrawn, forcing a restatement that cuts reported assets by $92.2 million. https:// newisty.com/blog/datavault-ai-… · newisty

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