Sei Network Officially Announces the Establishment of the Sei Development Foundation
Sei Network officially announced the establishment of the Sei Development Foundation, a non-profit organization now headquartered in Manhattan, United States. This step is to make crypto a part of institutional life in a country that has long been known to be very cautious about digital assets. It’s not an easy matter, especially when we talk about bureaucracy and the attitude of US regulators, who are known to be fierce.
Introducing the Sei Development Foundation, a U.S. nonprofit organization headquartered in Manhattan, the financial capital of the world Established by Sei Foundation, the Sei Development Foundation will provide the infrastructure required for institutional adoption and for…pic.twitter.com/iHm0Lg71wd — Sei (@SeiNetwork) April 2, 2025
Many are wondering, why bother creating a foundation in the heart of the world economy? The answer is simple. Sei wants to ensure that their approach to crypto can reach institutions directly and in a structured way. This foundation is designed to provide support, access to resources, and education for developers and industry players who want to build on Sei’s infrastructure. So, not only for those who already understand the ins and outs of blockchain, but also for institutions that are still awkward about setting foot in this world.
Sei’s Bold Move Into Genetic Data Sparks Privacy Concerns
Outside of regular activities, recently, the Sei Foundation was reported to be exploring the potential acquisition of 23andMe, a DNA service company that has just filed for bankruptcy. They aim to secure the genetic data of about 15 million Americans by storing it on the blockchain. But the question is, are people ready to entrust such personal data to a decentralized system? This plan raises its own concerns. On the one hand, blockchain can provide transparency and protection against data manipulation. But on the other hand, there are big questions about privacy, ownership rights, and the legality of storing biological data on an open network. If this plan is realized, Sei could open a new gateway for blockchain use in a space that has so far been synonymous with laboratories, not cryptography.
Sei Foundation Pushes Decentralized Science With Millions in Funding
Furthermore, the Sei Foundation has also shown its seriousness in supporting a more open and decentralized science ecosystem. In January 2025, they launched Sapien Capital—Open Science Fund I, a $65 million investment fund dedicated to funding startups in the Decentralized Science (DeSci) space. Projects funded will be built directly on the Sei blockchain with investment amounts from $100,000 to $2 million per project. For Sei, this strategy is not only about cryptocurrency acceptance but also about moving science in a more open and cooperative way. Once kept in university glass cabinets, information is now available via digital wallets.
TVL Hits $1.6B Milestone Amid Speed-Focused EVM Upgrade
Apart from the acquisition plan and support for DeSci, Sei Network has also made a technical achievement that is worth considering. The Sei network’s total value locked (TVL) in March was $1.6 billion. Even for a fairly new blockchain, this is not a small number. The Parallel EVM upgrade, which hastened transactions and opened the path for more DeFi initiatives to arise, caused this increase. Still, the price of the SEI coin does not fully reflect this success. SEI has swapped hands at about $0.1661 and had corrected 2.76% in the last 24 hours at the time of writing.