Sei Foundation Considers Acquiring 23andMe to Integrate Genetic Data on Blockchain

The Sei Foundation, linked to the layer-1 blockchain Sei (SEI), is exploring a potential acquisition of the bankrupt personal genomics firm, 23andMe, with intentions to place the genetic information of roughly 15 million users onto blockchain technology.

This initiative was shared in an X post on Thursday, where the foundation dubbed this move as its ‘boldest DeSci bet yet,’ indicating a commitment to decentralized science. Earlier this year, they initiated a $65 million venture capital fund aimed at supporting DeSci projects within the Sei ecosystem.

The foundation expressed that genomic data security poses national security concerns, particularly in light of 23andMe’s recent Chapter 11 bankruptcy filing. If the acquisition advances, the Sei Foundation intends to enable 23andMe users to maintain ownership of their genetic data through encrypted transfers, thereby ensuring privacy and allowing individuals to control how their data is utilized financially.

“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.

In light of current events, various state attorneys general have recently advised 23andMe users to delete their data from the platform due to the company’s precarious financial situation.

After this news, the SEI token saw a temporary spike of 3% before experiencing some correction.