The Sei Foundation is considering acquiring bankrupt genetic testing firm 23andMe, calling it its “boldest DeSci bet yet.” The proposal centers on safeguarding user data and bringing genomic information onchain, marking a pivotal moment for decentralized science (DeSci).
Background
- Genetic testing pioneer 23andMe officially filed for Chapter 11 bankruptcy on March 23, 2025, after years of financial struggles and mounting debt.
- A court ruling on Wednesday cleared the way for the company to seek buyers for its assets—including highly sensitive genomic and health data from over 15 million customers.
- Just a day later, the Sei Foundation, known for backing projects on the Sei Layer 1 blockchain, publicly announced it is exploring a takeover of 23andMe.
- The Foundation has been actively expanding into the decentralized science (DeSci) space through initiatives like Sapien Capital, a $65 million fund launched earlier this year.
Why Should You Pay Attention?
- This move isn’t just about rescuing a failing biotech company—it represents a significant convergence of decentralized finance, healthcare, and digital rights.
- If successful, Sei’s acquisition would mark the first time a major genetic database is transitioned to a blockchain network, giving users direct control over their genomic data.
- It could also set a precedent for how sensitive data is handled in the Web3 era.
- The Foundation’s vision includes:
Migrating 23andMe data onto the Sei blockchain.
Returning data ownership to users via encrypted transfers.
Allowing users to monetize and control access to their personal data.
- In a time where data privacy and ownership are becoming more contentious, this move may redefine digital bio-sovereignty.
Who Said What?
- The Sei Foundation wrote in a statement on X:
“We believe user data sovereignty is a matter of national security. When an American biotech pioneer faces bankruptcy, personal genomic data of millions becomes vulnerable.”
- The foundation promised more updates to come and added:
“This isn't just about saving a company, it's about building a future where your most personal data remains yours to control.”
Bloomberg reported that any successful bid for 23andMe must exceed $214 million—the company’s owed debt—before shareholders see returns.
Zooming Out
- The Sei Foundation’s interest in acquiring 23andMe is a bold demonstration of how Web3 infrastructure could intersect with biotech and personal data management.
- If executed, this could signal the dawn of a new era where DeSci platforms provide not only transparency and research funding but also personal data empowerment at a societal scale.
- As genetic data becomes increasingly commoditized, Sei’s proposal challenges existing paradigms of centralized data ownership.
- Whether the Foundation can actually pull off the acquisition remains to be seen, but the attempt alone is positioning Sei as a key player in the evolution of DeSci and digital sovereignty.
