23andMe Files For Chapter 11: Anne Wojcicki Resigns Amid Struggles to Revive Company

by THEFUTURE.TEAM

March 26, 2025

In a bold and unexpected move, 23andMe has filed for Chapter 11 bankruptcy, signaling the company’s struggle to stay afloat amid mounting financial pressure. In its filing with the Eastern District of Missouri federal bankruptcy court, the DNA testing giant revealed it has initiated the process of selling its assets in an attempt to salvage what’s left of its business. Despite the looming uncertainty, 23andMe reassured customers that it would continue operations throughout the asset sale process, emphasizing that there would be no disruptions to how customer data is stored, managed, or protected.

If the bankruptcy court approves its Chapter 11 plan, 23andMe will embark on a 45-day window to solicit bids. If multiple buyers emerge, the company will hold an auction to maximize its value. A key condition for any potential buyer: they must adhere to legal requirements for handling customer data, a significant concern after recent breaches.

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In a related shakeup, co-founder Anne Wojcicki, who once helmed the company, has stepped down as CEO. However, Wojcicki isn’t entirely distancing herself from the company—she will remain on 23andMe’s board and is reportedly preparing to bid on the company’s assets herself. Her resignation follows a failed attempt to take 23andMe private. Last month, she made a bid to acquire the company for $2.53 per share, but the deal collapsed when her partner, New Mountain Capital, pulled out. This was followed by a new bid this month, offering just 41 cents per share—a move swiftly rejected by the company’s board. In a statement on X (formerly Twitter), Wojcicki expressed her disappointment, but also her intent to pursue the company’s assets independently, citing her resignation as a strategic move to position herself better for the bidding process.

The Rise And Fall Of 23andMe

Once a market darling, 23andMe went public in 2021 through a merger with a Special Purpose Acquisition Company (SPAC), reaching a market cap of $6 billion. Wojcicki, a co-founder of the company, saw her fortune soar into the billions. But since then, the company’s stock has plummeted by over 99%, as it failed to reach profitability despite its promising start.

Adding fuel to the fire, the company suffered a major data breach in 2023, when hackers exploited recycled passwords to access sensitive user data. The breach involved over a million genetic data points, including information from high-profile individuals, and was shared across hacker forums. The exposed data included genetic ancestry, birth years, and even personal details of well-known tech figures such as Mark Zuckerberg and Elon Musk. In the aftermath, 23andMe settled in court, agreeing to pay $30 million and offer three years of security monitoring to those affected by the breach.

As 23andMe enters its next phase under bankruptcy proceedings, the company faces a steep uphill battle to regain trust and value. The fate of its assets—and its brand—now rests in the hands of potential buyers.

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Cypriots Report Growing Economic Concerns In New Eurobarometer Survey

by THEFUTURE.TEAM

May 11, 2026

Eurobarometer Survey Reveals Stark Economic Outlook

A comprehensive Eurobarometer survey conducted between March 12 and April 1, 2026, has revealed significant economic and institutional challenges in Cyprus ahead of Europe Day. The study, which included 506 interviews in Cyprus as part of a pan-European sample of 26,415 citizens, underscores a pronounced economic pessimism and declining trust in national and European institutions.

Economic Sentiment And Future Projections

More than half of Cypriots, or 53%, described the country’s economic situation negatively, while 46% expressed a positive assessment. Across the European Union, by comparison, 60% of respondents viewed their national economies positively and 38% negatively.

Economic pessimism also increased sharply compared with autumn 2025. Around 51% of Cypriots said they expect the economy to deteriorate further over the next year, marking a 23 percentage point increase from the previous survey period. Only 11% anticipated economic improvement.

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Despite broader concerns about the economy, perceptions of personal financial conditions remained relatively stable. Around 75% of respondents described their household financial situation positively, while 60% said they expect employment conditions to remain stable over the coming year.

Main Challenges And Priorities For Action

The cost of living remained the leading concern among Cypriot respondents at 36%, followed by developments in the Middle East at 30%, the national economy at 24%, migration at 23% and housing at 21%. Across the EU more broadly, respondents prioritised instability in the Middle East, Russia’s invasion of Ukraine and migration.

Regarding policy priorities, Cypriots said EU spending should focus primarily on employment, social policy and healthcare, alongside education, youth initiatives, housing and security.

Institutional Distrust And European Identity

Trust in national institutions remained low throughout the survey. Only 31% of respondents said they trust the government, while confidence in parliament stood at 22%. At the same time, 74% expressed distrust toward parliament.

Views toward the European Union also remained divided. Around 39% of Cypriots said they trust the EU, compared with 54% who said they do not, although this represented a slight improvement from autumn 2025.

The survey additionally pointed to a stronger sense of local and national identity than European identity. While 92% said they feel connected to their local communities and 95% to Cyprus itself, only 52% reported feeling attached to the EU and 45% identified with Europe more broadly.

Digital Security And Divergent Foreign Policy Views

Concerns about digital safety also remained elevated, with 53% of respondents saying major online platforms are not doing enough to remove illegal or harmful content. Another 45% said existing user protection measures remain insufficient.

The survey also revealed notable differences between Cypriot and wider EU attitudes toward the war in Ukraine. Although 77% supported accepting refugees and 70% backed humanitarian and economic assistance, support for sanctions against Russia stood at only 30%, significantly below the EU average.

Support for military assistance to Kyiv remained particularly low at 18%, while only 41% of respondents supported Ukraine’s future EU membership compared with 56% across the bloc.

Conclusion

The findings reflect growing economic anxiety and continued institutional scepticism in Cyprus amid broader geopolitical uncertainty across Europe and the Middle East. At the same time, the survey showed that Cypriots remain highly focused on domestic economic stability, social policy and cost-of-living pressures as key priorities for the years ahead.

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