Sei Foundation looks to acquire bankrupt 23andMe in major DeSci move
The Sei Foundation is exploring the acquisition of 23andMe, a bankrupt genetic testing company, with plans to bring its data infrastructure onto the Sei blockchain.
In a statement released on March 27, the Foundation revealed that the acquisition would mark a significant step toward protecting genetic data through on-chain solutions.
According to the Foundation:
“We believe user data sovereignty is a matter of national security. When an American biotech pioneer faces bankruptcy, personal genomic data of millions becomes vulnerable to parties that may not share the same values of transparency and open access.”
Considering this, the Sei Foundation revealed that acquiring 23andMe would align with its broader mission to protect user data.
Sei believes its acquisition would allow individuals to gain complete control over their personal information by transitioning the company’s genetic records to a blockchain-based system. Users could decide how their data is shared, monetized, or stored—enabling a future where privacy and ownership come first.
23andMe, widely known for offering DNA testing kits that provide insights into ancestry, traits, and genetic health risks, recently filed for Chapter 11 bankruptcy in the United States. The filing aims to open the door for potential buyers to acquire the company’s assets and maximize shareholder value.
DeSci
Meanwhile, the Foundation also stressed that this is more than a rescue operation.
Instead, the organization sees the potential acquisition as a strategic push into Decentralized Science (DeSci), an emerging field that applies blockchain principles to scientific research and data management.
If the deal is completed, the acquisition would mark one of the first major efforts to integrate genetic science into the chain.
Besides that, the acquisition could also strengthen the DeSci movement, which continues to attract attention and funding.
As of press time, data from CoinGecko shows that tokens tied to DeSci initiatives hold a combined market value of over $657 million.
The post Sei Foundation looks to acquire bankrupt 23andMe in major DeSci move appeared first on CryptoSlate.
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Sei Foundation looks to acquire bankrupt 23andMe in major DeSci move
The Sei Foundation is exploring the acquisition of 23andMe, a bankrupt genetic testing company, with plans to bring its data infrastructure onto the Sei blockchain.
In a statement released on March 27, the Foundation revealed that the acquisition would mark a significant step toward protecting genetic data through on-chain solutions.
According to the Foundation:
“We believe user data sovereignty is a matter of national security. When an American biotech pioneer faces bankruptcy, personal genomic data of millions becomes vulnerable to parties that may not share the same values of transparency and open access.”
Considering this, the Sei Foundation revealed that acquiring 23andMe would align with its broader mission to protect user data.
Sei believes its acquisition would allow individuals to gain complete control over their personal information by transitioning the company’s genetic records to a blockchain-based system. Users could decide how their data is shared, monetized, or stored—enabling a future where privacy and ownership come first.
23andMe, widely known for offering DNA testing kits that provide insights into ancestry, traits, and genetic health risks, recently filed for Chapter 11 bankruptcy in the United States. The filing aims to open the door for potential buyers to acquire the company’s assets and maximize shareholder value.
DeSci
Meanwhile, the Foundation also stressed that this is more than a rescue operation.
Instead, the organization sees the potential acquisition as a strategic push into Decentralized Science (DeSci), an emerging field that applies blockchain principles to scientific research and data management.
If the deal is completed, the acquisition would mark one of the first major efforts to integrate genetic science into the chain.
Besides that, the acquisition could also strengthen the DeSci movement, which continues to attract attention and funding.
As of press time, data from CoinGecko shows that tokens tied to DeSci initiatives hold a combined market value of over $657 million.
The post Sei Foundation looks to acquire bankrupt 23andMe in major DeSci move appeared first on CryptoSlate.
Read More