The Sei Foundation, the nonprofit development organization behind the layer-1 blockchain Sei (SEI), is exploring the acquisition of the bankrupt personal genomics company 23andMe and putting the genetic data of 15 million users on blockchain rails.
The foundation announced the initiative in an X post on Thursday, calling the plan its “boldest DeSci bet yet” — referring to the decentralized science movement.
The foundation stated that genomic data security is a national security matter, particularly as 23andMe confronts significant financial difficulties. The company, known for its direct-to-consumer DNA testing services, filed for Chapter 11 bankruptcy protection earlier this week.
If the acquisition proceeds, the Sei Foundation intends to integrate 23andMe’s data onto its blockchain infrastructure, empowering users to take ownership of their genetic data. This initiative aims to ensure privacy through encrypted transfers, allowing individuals to decide how their data is monetized.
“This isn’t just about saving a company; it’s about building a future where your most personal data remains yours to control,” the foundation emphasized.
In light of the recent bankruptcy filing, numerous state attorneys have urged 23andMe customers to delete their data from the platform, sparking discussions around data privacy and ownership.
Following the news, SEI, the native token of the network, experienced fluctuations, climbing as much as 3% before experiencing some retracement.
