23andMe, a genetic testing company, is entering bankruptcy proceedings in a bid to find a buyer amid persistent financial challenges. Co-founder Anne Wojcicki has stepped down as CEO and expressed interest in purchasing the company herself. The firm has suffered due to a lack of repeat customers and notable layoffs. Additionally, there are concerns regarding the sensitivity of user data in light of a prior data breach and the minimal legal protections for genetic information under federal law, which complicates the sale process and user privacy.
The scale of how much highly sensitive data 23andMe has is unique, raising concerns about user privacy amid the company's bankruptcy proceedings.
Federal law does little to secure genetic information given over to a private company, leaving customer data vulnerable during bankruptcy.
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