Datavault stock crashed 49.55% after disclosing its Bitcoin treasury has been trapped on Biconomy exchange for four months with no successful withdrawals.
Macro & Markets ·
Datavault (DVLT) stock declined 49.55% in a single day after the company disclosed that its entire Bitcoin treasury has been held on crypto exchange Biconomy for four months without any successful withdrawals, despite repeated transfer and withdrawal requests submitted to the platform. The inability to access its reserves represents a critical operational constraint for the Bitcoin treasury company.
The disclosure reveals a trapped-asset scenario in which Datavault has been unable to move any of its holdings off the exchange over the extended period. This creates immediate questions about asset custody practices and the reliability of the chosen platform for managing corporate treasury reserves.
It remains unclear whether Biconomy has acknowledged the withdrawal requests, what technical or operational reasons may be preventing the transfers, or what steps Datavault is taking to recover access to its funds. The status of negotiations with the exchange and any potential legal or regulatory recourse are also not yet known.