THORChain encountered some difficulties in 2025, including announcing insolvency in January. The company made an announcement on X, revealing that it had temporarily paused its network due to significant debt and leverage problems affecting its ecosystem.

Sei Blockchain, the layer-1 chain in a significant bet towards the developing concept of decentralised science, has announced the acquisition of 23andMe after the latter filed for the Chapter-11 Bankruptcy. The California-based genetic testing and biotech company, 23andMe, has been offering DNA testing via saliva samples for millions of Americans since 2007.

TL;DR Sei Foundation is considering acquiring 23andMe after its bankruptcy filing, aiming to protect the genetic data of millions of users using blockchain technology. The proposal empowers individuals by giving them full control over how their genetic information is stored, shared, and monetized.

The Sei Foundation, the nonprofit behind the Sei (SEI) layer-1 blockchain, is considering acquiring bankrupt personal genomics giant 23andMe. The goal? To bring the genetic data of 15 million users onto blockchain rails, ensuring privacy, ownership, and control in what its calling its boldest DeSci bet yet.

The Sei Foundation is exploring the acquisition of 23andMe, a bankrupt genetic testing company, with plans to bring its data infrastructure onto the Sei blockchain. In a statement released on March 27, the Foundation revealed that the acquisition would mark a significant step toward protecting genetic data through on-chain solutions.

Sei Foundation revealed plans to acquire genetic testing firm 23andMe, which filed for bankruptcy early this week. The potential deal aims to revolutionise genetic data security and privacy using blockchain, guaranteeing user authority over sensitive details. The company said: We believe user data sovereignty is a matter of national security.

After 23andMe declared bankruptcy in the United States on March 23, 2024, the Sei Foundation, linked to the Sei blockchain network, announced its intention to consider acquiring the genetic testing company. The goal would be to protect the privacy of the genetic data of about 15 million users, offering them ownership and direct control of the information through secure and encrypted blockchain tools. The project, announced in a post published on March 27 on the official X account of the Sei network, aims to address an issue of growing importance: the security of bio-genetic data in the digital age, especially in contexts of financial instability like the current one of the American biotech company.

Sei Foundation considers acquiring bankrupt genomics firm 23andMe, saying it wants to protect the genetic privacy of 15m Americans by securing their data on blockchain. The post Sei Foundation Eyes 23andMe Buyout to Secure Genetic Data On Blockchain appeared first on Cryptonews.

The foundation behind the layer-1 blockchain, Sei, announced it was exploring the acquisition of the genetic testing company 23andMe after the firm filed for bankruptcy.In a March 27 X post, the Sei network said its foundation was considering purchasing 23andMe “to defend the genetic privacy of 15 million Americans” by putting the company's data on the blockchain. According to the foundation, if it acquires the biotechnology company, it plans to deploy all the genetic information on the blockchain and “return data ownership to users through encrypted, confidential transfers.

23andMe, the genetic testing company that went public in 2021, announced on March 23 that it was filing for Chapter 11 bankruptcy.

If the acquisition proceeds, the foundation plans to integrate 23andMe's data onto its blockchain and give users ownership of their genetic data.

This unexpected boost has industry watchers speculating about the next potential breakout. Could XYZ be on the brink of a similar rise?

Sei's price has been in a strong downward trend over the past few months, but technical and fundamental indicators suggest that a rebound may be possible. Sei (SEI), a layer-1 token, dropped to a low of $0.

With Bitcoin on the verge of a breakout (or rejection), the altcoins are starting to stir. The altcoin market cap could already have bottomed.

US President Donald Trump's World Liberty Financial has purchased 541,242 SEI tokens for 100,000 USDC.

SEI cryptocurrency price jumped 7.3% after Donald Trump's DeFi venture World Liberty Financial purchased 541,242 tokens for $100,000

Donald Trump's DeFi project World Liberty Financial continues fresh crypto, acquiring another 541,242 SEI coins. This news was enough to push the SEI price up by 7.3% while the broader crypto market consolidates.

Sei's Giga upgrade introduces the Autobahn consensus mechanism, promising rapid transaction finality and robust infrastructure for global markets. Explore its potential impact on traditional asset tokenization.

THORChain has been called a money laundering protocol — a label no decentralized finance (DeFi) project wants unless it's prepared to have regulators breathing down its neck.Its supporters have fended off the criticism by championing decentralization, while its critics point to recent activities that showed some of the protocol's centralized tendencies. After exploiting Bybit for $1.4 billion, the North Korean state-backed hackers behind the attack, known as the Lazarus Group, flocked to THORChain, making it their top choice to convert stolen funds from Ether (ETH) to Bitcoin (BTC).

This crypto bull market has not been particularly kind to the vast majority of altcoins. Unlike previous bull markets, the focus has been very much on Bitcoin, seemingly with only the merest sniff of an altcoins season, which has so far failed to arrive.

THORChain, a decentralized cross-chain swap protocol, witnessed an unprecedented surge in activity following the Bybit hack. According to DefiLlama, THORChain processed a record $4.66 billion in swaps in the week ending March 2, surpassing $1 billion in a single day.

The Lazarus Group has already laundered all the unfrozen funds it stole from the recent Bybit hack. The group used THORChain's DEX to convert ETH tokens, sparking community criticisms.

The CEO of the recently hacked crypto exchange Bybit says that North Korean hackers have converted 417,348 stolen Ethereum (ETH) into Bitcoin (BTC). According to Bybit CEO Ben Zhou, North Korean state-sponsored hackers stole approximately $1.4 billion in ETH from Bybit, bridging a significant portion of the assets to Bitcoin.

The SEI network marks a significant rise in DEX volume to hit a record volume of $65 billion. However, it fails to reflect demand to drive the SEI market price higher. Will the altcoin manage a breakout rally amid rising DEX volumes?

THORChain reportedly generated $5.5M in transaction fees from the surge in activity linked to the laundering of Bybit's stolen funds.

THORChain generated over $5 million in revenue as Bybit's $1.4 billion hacker used the protocol for moving funds, sparking controversy over its role in illicit crypto transfers.

North Korean hackers used THORChain to help launder $1.4 billion in stolen Bybit funds, driving the protocol's weekly volume to a record $4.6 billion.

Bybit CEO Ben Zhou has confirmed that $1.07 billion—roughly 77% of the assets stolen in the exchange's recent $1.4 billion security breach—can still be tracked. In a March 4 update, Zhou disclosed that hackers successfully laundered $280 million, around 20% of the 499,000 ETH stolen.

THORChain was one of the platforms Bybit hackers used to launder funds, according to observers.

RUNE, the native token of the THORChain protocol, remains under significant bearish pressure following a 9.09% price decline in the last week. According to crypto analyst Ali Martinez, RUNE is likely far from a market recovery following a bearish flag pattern on its trading chart.

A developer from THORChain, known as Pluto, has announced his departure from the decentralized liquidity protocol following a contentious decision involving North Korean-linked transactions. The controversy emerged after a vote by the network's validators to block these transactions was swiftly overturned, raising concerns about the platform's governance and resilience to regulatory challenges.

Thorchain is facing operational risks as developers look to quit over disagreements on handling sanctioned funds linked to North Korean hackers.

THORChain developer “Pluto” resigns over failure to block illicit transactions. The FBI urged exchanges and validators to prevent North Korean money laundering.

Thorchain is grappling with developer departures and mounting concerns over its role in laundering stolen crypto, particularly Ethereum from the Bybit hack, tied to North Korean hackers.

THORChain token is flashing a bearish signal, forming a bearish flag pattern that suggests further downside even as swap volume surges. THORChain (RUNE) was trading at $1.3050 on Friday, down 82% from its November peak.

Key Points

Supporters of the decentralized exchange Thorchain have pushed back against claims that the protocol is actively aiding North Korea-backed hackers attempting to cash out funds from the Bybit hack.

THORChain's native token has plummeted 20% in the past 24 hours, wiping off recent gains as the rest of the market also bleeds. The price of THORChain (RUNE) changed hands around $1.20, dipping sharply after hitting highs above $1.60.

According to Arkham, Lazarus-linked wallets have moved over $240 million in ETH through THORChain. They primarily swapped it for Bitcoin (BTC).

THORChain developer Pluto announces his departure after a vote to block North Korean hacker-linked transactions was reverted. A validator is also threatening to exit unless the protocol can stop the flow of hacker funds.

A core developer of THORChain has announced their resignation following the reversal of a vote to block transactions linked to North Korean hackers. The post THORChain Developer Resigns After Vote to Block North Korean Hackers Was Reverted appeared first on Cryptonews.

Thorchain faces a critical moment as key developers leave amid concerns over North Korean hackers using the platform to launder stolen cryptocurrency.

Bybit hackers laundered 270,000 ETH, equivalent to approximately $605 million, via THORChain, representing over half of stolen funds. The post Bybit Hacker Launders 270K ETH Via THORChain, Still Holds $514M appeared first on Cryptonews.

THORChain is facing internal turmoil after a developer resigned over a controversial vote to block transactions linked to North Korean hackers.

A THORChain RUNE developer has stepped away from the project after an attempt to block transactions linked to North Korean hackers was reversed.

A THORChain dev has backed out and a validator is threatening to follow as North Korean hackers have reportedly sent $605 million worth of crypto through the protocol.

Thorchain is experiencing a developer exodus, as hackers from Lazarus Group are using the interoperability-focused blockchain to launder Ethereum (ETH) stolen in the Bybit hack. A Thorchain developer known as TCB announced that Pluto, the protocol's unofficial lead developer, is stepping down.

MetaMask head of security, Taylor Monahan, said Lazarus has moved at least 209,384 ETH, over half the ETH stolen from Bybit, into BTC.