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23andMe announced it was filing for bankruptcy successful the US connected March 23, starring to concerns from galore users astir the privateness of their familial data.
The instauration down the layer-1 blockchain, Sei, announced it was exploring the acquisition of the familial investigating institution 23andMe aft the steadfast filed for bankruptcy.
In a March 27 X post, the Sei web said its instauration was considering purchasing 23andMe “to support the familial privateness of 15 cardinal Americans” by putting the company’s information connected the blockchain. According to the foundation, if it acquires the biotechnology company, it plans to deploy each the familial accusation connected the blockchain and “return information ownership to users done encrypted, confidential transfers.”
March 27 X announcing a imaginable acquisition of 23andMe. Source: Sei Network
“We judge idiosyncratic information sovereignty is simply a substance of nationalist security,” said the Sei network. “When an American biotech pioneer faces bankruptcy, idiosyncratic genomic information of millions becomes susceptible to parties that whitethorn not stock the aforesaid values of transparency and unfastened access.”
The announcement came astir 4 days aft 23andMe said it had filed for Chapter 11 extortion successful the US Bankruptcy Court for the Eastern District of Missouri. The institution said astatine the clip determination would beryllium “no changes to the mode [it] stores, manages, oregon protects lawsuit data,” which reportedly includes familial accusation from astir 15 cardinal radical globally.
Related: Stop giving your DNA information distant for escaped to 23andMe, says Genomes.io CEO
The 23andMe bankruptcy has, for many, reignited concerns astir information privacy successful an property successful which companies person caches of familial accusation from millions of people.
After the bankruptcy announcement, New York State Attorney General Letitia James and California Attorney General Rob Bonta urged 23andMe users to interaction the institution to delete their idiosyncratic data, saying they had a close to privateness and to petition immoderate DNA samples beryllium destroyed. The 2 authorities said authorities laws gave 23andMe users power of their ain data.
The terms of the network’s Sei (SEI) token concisely roseate from $0.209 to $0.215 aft the network’s X station — a astir 3% increase.
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