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

X Shifts U.S. Creator Payouts To X Money With No Minimum Threshold

by THEFUTURE.TEAM

September 3, 2026

X said Wednesday that all creator payouts in the U.S. will now be processed through X Money, its payments service, with the change taking effect immediately.

The new system covers earnings from X’s Original Content Rewards Program and creator subscriptions, according to X Creators. U.S. creators will receive access to their funds as soon as payouts are sent, the company said.

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

Instant Access Replaces Biweekly Payouts

Previously, X paid creators every two weeks and required them to earn at least $30 before receiving a payout, according to the company’s documentation.

Under X Money, creators no longer need to wait for the end of a billing cycle or meet a minimum threshold. The faster access could be particularly useful for independent publishers and smaller creators who rely on regular payments for operating expenses.

U.S. Creators Must Switch From Stripe

The change is mandatory for creators in the U.S. Those previously receiving payments through Stripe will have to move to X Money, an X representative confirmed. Creators outside the U.S. will continue receiving payouts through Stripe.

X Reshapes Creator Monetization

The payments change comes as X prepares to retire its Creator Revenue Sharing Program on Sept. 7. The program stopped accepting new members last month, and creators are being moved to the Original Content Rewards Program, which emphasizes original content.

The shift is part of X’s broader effort to restructure creator monetization around content produced for the platform.

X Money Expands Musk’s Payments Strategy

X Money, which began supporting creator payouts earlier this month, is part of Elon Musk’s effort to turn X into an “everything app.”

The service offers a bank card with 3% cash back, instant payments, free ATM withdrawals and other digital banking features. X Money is not a bank, however. Customer accounts are held at Cross River Bank, an FDIC-insured institution.

Payouts Also Affect Interest And Tax Reporting

Creator payouts will count toward the direct deposit requirements for X Money’s higher APY rate. According to X Money’s interest FAQ, X Premium users can receive a 6% rate, compared with 4% for the standard rate.

X said it will issue a 1099-NEC to individuals receiving creator payouts. For LLCs, the company will collect W-9 information for tax reporting purposes.