Datavault AI’s Biconomy Mishap Warns Bitcoin Treasury Investors

The most recent “not your keys, not your coins” incident involving a small Nasdaq-listed company that lost access to its bitcoin and saw its stock crash 50% serves as a reminder of the risks facing bitcoin treasury investors. On Oct. 26, tech company Datavault AI disclosed that it had been unable to withdraw bitcoin from the Biconomy crypto exchange since June 2026. The next day, the company’s share price plunged around 50% and has yet to recover, with its market capitalization now hovering near $65 million.