23andMe, the genetics testing company, has filed for Chapter 11 bankruptcy protection in the U.S., initiating asset sales. Co-founder and CEO Anne Wojcicki announced her resignation to pursue an independent bid for the company. The board believes a court-supervised sale is essential for addressing financial challenges and operational issues. The company, which went public in 2021, has seen its market value plummet over 99%, exacerbated by a significant data breach affecting millions of customers. Currently, its market capitalization stands at approximately $48 million.