Breaking news

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.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

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.

The Future Forbes Realty Global Properties

Euro Leads Extra-EU Trade While Dollar Dominates Energy Imports

According to a recent report from Eurostat, the euro remained the leading currency for extra-EU imports of primary goods excluding petroleum in 2025, accounting for 47.4% of total transactions. The United States dollar followed closely with a 45.0% share, highlighting the continued competition between the world’s two dominant trade currencies across international markets.

Strong Performance In Primary Goods Imports

Eurostat data show that the euro continued playing a central role in extra-EU trade involving primary commodities during 2025. Currencies from EU member states outside the eurozone represented just 1.7% of transactions, while other international currencies accounted for the remaining 5.3%, reinforcing the euro’s dominant position in this category.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

USD Dominance In The Energy Sector

In stark contrast, the US dollar overwhelmingly dominated the importation of petroleum products, commanding an 86.7% share in 2025. The euro, while significant in other sectors, lagged substantially in stellar energy trade performance, with only a 12.9% share. Minor roles were played by other EU currencies (0.2%) and non-EU currencies (0.1%), reinforcing the dollar’s preeminence in the energy domain.

Competitive Landscape In Manufacturing Trade

In the realm of manufactured goods, the US dollar again led the way with a 46.2% share of imports. The euro was not far behind, securing 43.3% of the market. Additional contributions came from other EU currencies at 1.7% and non-EU currencies at 8.5%, illustrating the diversified currency usage in this trade segment.

Export Trends: Euro Ascendant Amid Varied Currency Usage

The report further reveals that the euro played a decisive role in extra-EU exports of primary goods, achieving a 62.2% share compared to the US dollar’s 22.9%. Contributions from other domestic EU currencies (2.5%) and non-EU currencies (12.1%) complemented the overall export transactions. In petroleum exports, however, the US dollar remained dominant with a 70.1% share. The euro managed a notable 27.5% share in this energy category.

Manufactured Goods Exports

In manufactured goods exports, the euro maintained its lead with a 50.4% share, while the U.S. dollar represented 32.4% of transactions. Other EU currencies accounted for 1.8%, with non-EU currencies making up the remaining 15.2%, highlighting continued diversification in international trade settlement practices.

The latest Eurostat figures illustrate the euro’s strong position across large segments of extra-EU trade, even as the U.S. dollar continues dominating energy-related transactions and maintains a major role in global manufacturing trade.