The nonprofit organization overseeing the layer-1 blockchain Sei (SEI) is considering acquiring the bankrupt personal genomics company 23andMe and aims to transfer the genetic information of 15 million users onto a blockchain system.
This initiative was revealed in a post on X, where the organization referred to the plan as its “most ambitious DeSci venture yet,” aligning with the decentralized science movement. Earlier this year, they also established a $65 million venture capital fund to support DeSci startups operating on the Sei network.
The organization emphasized that the security of genomic data is a matter of national security, especially as 23andMe faces financial struggles. The firm, known for its consumer DNA testing services, recently filed for Chapter 11 bankruptcy protection.
If the acquisition goes through, the organization plans to migrate 23andMe’s data onto its blockchain, granting users ownership of their genetic information, thus ensuring privacy through encrypted transactions and empowering individuals to decide the monetization of their data.
“This is not merely about rescuing a business; it’s about creating a future where your most intimate data is yours to govern,” the organization stated.
In recent days, several state attorneys general have advised 23andMe users to remove their information from the platform following the company’s bankruptcy announcement.
The native token of the network, SEI, rose by as much as 3% after the news broke but subsequently relinquished some of those gains.