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Sei Foundation plans to acquire bankrupt 23andMe, aiming to store user genetic data on its blockchain and let users reclaim ownership.
What’s the Scoop?
- Sei's Bold Proposition: The Sei Foundation is considering acquiring the bankrupt genomics firm 23andMe to bring its 15 million users' genetic data to the blockchain.
- National Security Focus: The foundation emphasized genomic data security as a national security concern amidst 23andMe's financial struggles and recent Chapter 11 bankruptcy filing.
- User Data Ownership: If the deal proceeds, Sei plans to give users control over their decrypted genetic data, allowing them to decide on monetization uses.
- Market Response: SEI token jumped 3% on the announcement but pared back gains shortly after.
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