Datavault AI Stock Plummets on Bitcoin Deal Issue
Datavault AI shares plunged 50% after the firm reported it cannot withdraw bitcoin tied to a $150 million transaction.
Datavault AI stock plummeted 50% following an announcement that the firm cannot withdraw bitcoin tied to a $150 million deal, according to TheBlock.
The issue centers on an agreement with Scilex, under which Scilex agreed to acquire shares of Datavault AI for $150 million, payable in bitcoin. The inability to access the digital asset tied to the transaction triggered a sharp sell-off in the company's shares.
Instant Telegram notifications for large on-chain moves.
Key facts
- Datavault AI stock dropped 50% following the announcement.
- The issue involves a $150 million deal with Scilex.
- Scilex agreed to buy shares of Datavault AI payable in bitcoin.
Source: theblock.co
This article is for information only and is not investment advice. BullishMarketCap news is produced with AI assistance from public sources and reviewed by our editors; see our editorial policy. Spotted an error? Tell us.
