Top analyst calls Nasdaq AI firm's Bitcoin filing 'one of the ugliest' ever

Datavault AI just proved that "owning" $150 million in Bitcoin means nothing if it’s off-chain. By relying on a platform's internal books instead of the blockchain, they’ve rendered over a year of financial reports unreliable and may wipe $92 million off their balance sheet. If you can't withdraw your assets, do you even own them? This "ugliest 8-K ever" exposes a fatal flaw in how companies handle digital assets. Is off-chain crypto just a dangerous illusion for investors?
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