Sei Foundation Explores Acquisition of 23andMe

The Sei Foundation, a nonprofit organization behind the layer-1 blockchain Sei (SEI), is considering acquiring the bankrupt personal genomics company 23andMe and migrating the genetic data of 15 million users to blockchain technology.

The initiative was announced in a recent post on X, described as the foundation’s “boldest DeSci bet yet,” highlighting its connection to the decentralized science movement.

The foundation emphasizes that the security of genomic data is a matter of national importance, especially as 23andMe faces financial challenges. The company, known for its direct-to-consumer DNA testing, filed for Chapter 11 bankruptcy protection earlier this week.

If the acquisition moves forward, the Sei Foundation aims to transition 23andMe’s data onto its blockchain, granting users ownership of their genetic data. This would ensure privacy through encrypted transfers and allow individuals the choice of 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,” stated the foundation.

Recently, several state attorneys have advised 23andMe customers to delete their data from the platform following the company’s bankruptcy.

The SEI token, associated with the network, saw an increase of up to 3% after the news before partially correcting its gains.