The Wikimedia Foundation has stopped accepting donations in cryptocurrency

The Wikimedia Foundation (WMF), the organization behind Wikipedia, has announced that it will no longer accept cryptocurrency donations, as first reported by Web3 runs just great. In an update, WMF says it has “decided to stop directly accepting cryptocurrency as a fundraising vehicle.” It also says it will shut down its Bitpay account to prevent future contributions in crypto.

After a long time discussion with almost 400 members of the WMF community the majority voted for abolition with crypto articles 234 to 94. Some of the main arguments concerned the environment effects of bitcoin, the risk of fraud, as well as the fact that WMF receives so few cryptocurrency donations compared to other forms of payment. The WMF says received it Cryptocurrency donations worth $130,100.94 in 2021, accounting for just 0.08 percent of total contributions received. After the community voted, WMF held an internal discussion and finally called for donations in cryptocurrency to be stopped.

The WMF first started with the acceptance Bitcoin, Bitcoin Cash, and Ether donations in 2014, but a series of issues prompted the organization to reevaluate that policy. Molly White, a longtime Wikipedia editor and creator of Web3 runs just greatsuggested the WMF stop accepting cryptocurrency donations in January, arguing that this contradicts the organization’s commitment to environmental sustainability and also signals that the Wikimedia Foundation supports “inherently predatory” investments.

White (who goes by the username GorillaWarfare on Wikipedia) also cited Mozilla’s reappraisal of its involvement in the crypto space. Mozilla finally decided to do it Stop donating cryptocurrencies in April after received setback from users, developers and one of its founders, Jamie Zawinski, for the release a tweet Remind users that donations are accepted in Bitcoin and Ethereum.

“I’m really glad that the Wikimedia Foundation honored their community’s request, and I’m really proud of my community for making an ethical decision after much thoughtful discussion,” White said in a statement The edge. “There are just too many issues with crypto for potential fundraising to be worth the cost to help legitimize it.”

WMF concluded its update by saying that it “continues to monitor this issue” and “will remain flexible and responsive to the needs of volunteers and donors.” The Wikimedia Foundation has stopped accepting donations in cryptocurrency

Fry Electronics Team

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