The Sei Foundation is exploring a bold move into the biotech space, expressing interest in acquiring 23andMe, the well-known genetic testing company that has recently sought Chapter 11 bankruptcy protection.
This unexpected development was hinted at in a statement shared on Sei’s X (formerly Twitter) account.
At the core of Sei’s vision is the integration of genetic data with blockchain technology.
The foundation envisions a system where over 15 million genetic profiles from 23andMe users could be stored securely on the blockchain, granting individuals complete ownership and control over their personal information.
With concerns about data security mounting—especially given 23andMe’s financial instability—Sei argues that decentralized storage could provide a more resilient solution.
Sei itself is a cryptocurrency with a current market valuation of approximately $1 billion and is actively traded on Binance.
This potential acquisition comes at a time when privacy advocates and state attorneys general are urging 23andMe users to reconsider keeping their genetic data on the platform.
Sei maintains that blockchain encryption can offer a safer alternative, ensuring users retain authority over their data while deciding whether to share or monetize it.
Editorial Team
Reporter at Coindoo
Source: https://coindoo.com/sei-foundation-explores-major-biotech-acquisition-for-blockchain-integration/