The House Committee on Energy and Commerce sent a letter to 23andMe expressing concern that its genetic data is "at risk of being compromised." The embattled genetic testing company filed for Chapter 11 bankruptcy protection in March, and its assets are up for sale.
The US Federal Trade Commission (FTC) on Monday warned genetic testing firm 23andMe to honor its promise to protect people's personal information as it navigates bankruptcy.
23andMe, one of the first companies to provide direct-to-consumer genetic testing kits, has filed for bankruptcy. Since its founding in 2006, it has sold over 12 million DNA kits, with high-profile users including Oprah Winfrey and Warren Buffett.
23andMe is going bankrupt — underscoring the great risks of investing in many of the companies that have gone public via mergers with special-purpose acquisition corporations.
23andMe has officially filed for Chapter 11 bankruptcy protection, which means a new company could acquire its genetic database. Here's how you can delete your information from 23andMe.
The bankruptcy of 23andMe Holding Co. has thrust the issue of data privacy firmly into the spotlight as the DNA testing company looks to sell its most valuable asset: a vast trove of customers' genetic data.
The announcement that 23andMe is filing for bankruptcy and has put its genetic genealogy database up for sale has sent its customers into a bit of a privacy tizzy. On March 21, California Attorney General Bob Bonta issued a consumer alert with detailed instructions about how to delete one's data.
23andMe (NASDAQ:ME) shares rebounded more than 60% on Thursday after a US judge confirmed the genetic testing company is allowed to sell customer data as part of its Chapter 11 bankruptcy proceedings. This data, including medical and ancestry-related information from more than 15 million customers, is considered one of the company's most valuable assets.
Over the past decade, 23andMe has collected genetic data from millions of people—and now that the company has filed for bankruptcy, that information could be sold to the highest bidder, a Northeastern University data scientist warns.
23andMe cofounder Linda Avey discussed the company in a LinkedIn post on Wednesday. Avey said the biotech company "lost its way" without product development and "proper governance.
23andMe co-founder Linda Avey took to social media with harsh criticism of CEO Anne Wojcicki after the company's bankruptcy filing this week. Avey, Wojcicki and Paul Cusenza launched 23andMe in 2006.
Theresa Payton, Fortalice Solutions CEO and former White House chief information officer, joins 'Squawk Box' to discuss the fallout from 23andMe's bankruptcy filing, why users should delete their data from the website, the Trump administration's use of Signal to discuss military plans, and more.