15 Million People’s DNA Data Hits the Market After Popular Testing Company Goes Bankrupt

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00:0015 million people's DNA data hits the market after popular testing company goes bankrupt.

00:0623andMe, once valued at $6 billion, has filed for bankruptcy,

00:12risking the DNA data of over 15 million customers amid its financial collapse.

00:2023andMe entered bankruptcy, seeking a buyer after years of financial struggles

00:25and a major data breach exposing 6.9 million accounts.

00:30In late 2024, it cut 40% of staff to save $35 million annually.

00:36CEO Anne Wojcicki stepped down, but her buyout offer was rejected.

00:4423andMe's bankruptcy raises fears over genetic data privacy,

00:48as U.S. laws offer limited protection beyond stopping employer and insurer misuse.

00:53Some states have stricter laws letting users delete data and requiring warrants for police access.

00:5823andMe seeks court approval to sell assets, with bids collected over 45 days, backed by $35 million to maintain operations.

01:10The company vows to keep data protection unchanged and appointed Joe Celsovich as interim CEO

01:17and Matt Cavarda as chief restructuring officer.

01:2423andMe will remain open during bankruptcy, allowing customers to delete data and close accounts.

01:29Experts and California's AG urge users to delete data, destroy saliva samples, and revoke research permissions amid privacy concerns.

01:4223andMe's bankruptcy reveals the risks of sharing genetic data with private companies,

01:48highlighting how vulnerable our biological information is in today's digital world.

01:53This case urges stronger protections to keep genetic data secure, whether companies thrive or fail.