Sei Foundation floats 23andMe acquisition, genetic data on the blockchain

23andMe announced it was filing for bankruptcy in the US on March 23, leading to concerns from many users about the privacy of their genetic data.

The foundation behind the layer-1 blockchain, Sei, announced it was exploring the acquisition of the genetic testing company 23andMe after the firm filed for bankruptcy.

In a March 27 X post, the Sei network said its foundation was considering purchasing 23andMe “to defend the genetic privacy of 15 million Americans” by putting the company’s data on the blockchain.

According to the foundation, if it acquires the biotechnology company, it plans to deploy all the genetic information on the blockchain and “return data ownership to users through encrypted, confidential transfers.” 

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