# Datavault AI Will Restate Four Reports After Bitcoin Withdrawal Stalls

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/42460
Published: 2026-10-28T08:23:10.000Z
Updated: 2026-10-28T08:23:10.000Z
Section: Business

> The company estimated its Dec. 31, 2025, assets could fall by $92.2 million. Its shares dropped 49.6% on Oct. 27.

Datavault AI will restate four financial reports after saying it cannot retrieve Bitcoin (BTC) from a custody wallet, a change that could cut reported assets by as much as $92.2 million.

The company disclosed the withdrawal problem in an Oct. 26 filing with the Securities and Exchange Commission, saying it has sought since June to transfer Bitcoin from a Biconomy Pte. Ltd. wallet to an outside account. The filing did not specify the amount involved or explain why the transfer had not been completed.

Datavault AI’s audit committee and management determined Oct. 20 that Bitcoin received in a 2025 stock transaction with Scilex Holding should not have been recorded as a company digital asset. The company plans to classify it instead as a subscription receivable, or payment owed for shares, and record it as a reduction to equity.

Datavault AI estimated the restatement would reduce total assets by $8.1 million as of Sept. 30, 2025; $92.2 million as of Dec. 31, 2025; $57.1 million as of March 31, 2026; and $49 million as of June 30, 2026.

Shares fell 49.6% to about $0.067 on Oct. 27, from $0.133 in the prior session. The affected reports cover the third quarter and full year of 2025 and the first two quarters of 2026. The company has not set a timetable for filing corrected statements.