Datavault Shares Plunge Nearly 50% After Biconomy Bitcoin Disclosure
AI summary
Datavault shares fell nearly 50% after the company disclosed issues tied to a Biconomy bitcoin arrangement. Datavault plans to restate four financial periods and expects to remove $49 million from its June 2026 assets after reassessing a bitcoin-funded equity deal. The restatement and large asset writedown raise accounting and disclosure concerns around bitcoin-linked corporate treasury deals, a cautionary signal for traders watching firms that use crypto to fund equity transactions.
