The Sei Foundation, the nonprofit development organization behind the layer-1 blockchain Sei (SEI), is exploring the acquisition of bankrupt personal genomics company 23andMe and putting the genetic data of 15 million users on blockchain rails.

The foundation announced the initiative in an X post on Thursday, calling the plan its “boldest DeSci bet yet” — referring to the decentralized science movement. Earlier this year, it also launched a $65 million venture capital fund dedicated to DeSci startups building on the Sei network.

The foundation said that genomic data security is a national security matter, particularly as 23andMe grapples with financial difficulties. The company, known for its direct-to-consumer DNA testing services, filed for Chapter 11 bankruptcy protection earlier this week.

If the acquisition proceeds, the Sei Fundation plans to integrate 23andMe’s data onto its blockchain and give users ownership of their genetic data, ensuring privacy through encrypted transfers and allowing individuals to decide how their data is monetized.

“This isn’t just about saving a company, it’s about building a future where your most personal data remains yours to control,” the foundation said.

Numerous state attorneys general have warned 23andme customers to delete their data from the platform in recent days since the company’s bankruptcy filing.

SEI, the native token of the network, climbed as much as 3% following the news before giving back some of the gains.

President Donald Trump has threatened bigger import tariffs against the European Union (EU) and Canada if they worked together “to do economic harm” to the U.S.

“If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” Trump said in a late Wednesday night post on Truth Social.

Financial markets, however, remain steady in the wake of the new threat, with BTC in stasis below $88,000. Germany’s DAX futures fell 0.3% while their Wall Street counterparts traded flat to positive.

The resilience in the market likely stems from Federal Reserve Chairman Jerome Powell’s recent indication that the inflationary pressures resulting from tariffs could be transitory.

Ethereum may be entering a period of heightened volatility, according to the latest outlook from decentralized options platform Derive, which sees signs of a breakout despite bearish indicators in the near term.

Nick Forster, founder of Derive, told Decrypt Ethereum’s implied volatility is currently near monthly lows, with 7-day and 30-day tenors sitting at 59% and 45%, respectively. 

“Historically, such low levels rarely hold,” he said, adding that April could mark the beginning of a sharp upswing in Ethereum volatility.

Despite the muted volatility, Ethereum’s forward rate—a measure of expected future value—is currently below the U.S. 5% treasury bill rate, signaling weak near-term confidence. 

However, Forster said that such conditions have previously preceded price spikes. 

“When forward rates are this low, we often see sharp price increases in the following weeks as leveraged positions become more attractive and demand builds,” he said.

Ethereum’s circulating supply on centralized exchanges has fallen to a nine-year low, which could amplify any price reaction if demand rises. 

Derive estimates a 30% probability Ethereum will dip below $1,800 by the end of May, but a 19% chance it will rally above $2,500.

Bitcoin remains more stable by comparison, with Derive predicting a 33% chance the asset falls below $80,000 by May and a 20% chance it breaks $100,000.

Meanwhile, other layer-1 tokens are gaining traction. XRP is seeing renewed interest following the SEC’s decision to drop its lawsuit against Ripple Labs, alongside potential ETF applications under review. Derive projects up to $8 billion in inflows if those funds are approved.

Solana is also seeing increased institutional signals, including a Fidelity-registered fund in Delaware that may evolve into a Solana spot ETF.

Ethereum experienced $86 million in outflows last week, compared to $724 million in Bitcoin inflows. 

Short-term sentiment may favour Bitcoin, but the Ethereum Foundation’s roadmap, including Etherealize and the Pectra upgrade, could shift institutional attention back to Ethereum in the second half of 2025, Forster said.