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Wikimedia Foundation, Has Declared That It Will No Longer Accept Bitcoin Donations

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According to Web3 Is Going Just Fine, the Wikimedia Foundation (WMF), the organization behind Wikipedia, has declared that it will no longer accept bitcoin donations. The WMF writes in an update that it “has decided to suspend direct acceptance of cryptocurrency as a source of the donation.” It also claims it will cancel its Bitpay account, blocking any future cryptocurrency contributions.

Following a protracted discussion with nearly 400 members of the WMF community, the majority voted 234 to 94 to eliminate crypto contributions. Some of the primary concerns focused on the environmental consequences of Bitcoin, the potential of fraud, and the fact that the WMF receives so few bitcoin donations in comparison to other kinds of payment. According to the WMF, bitcoin donations totalled $130,100.94 in 2021, accounting for only 0.08 percent of total contributions received. Following the vote of the community, the WMF undertook an internal discussion and reached the ultimate decision to halt cryptocurrency donations.

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The World Monuments Fund first accepted Bitcoin, Bitcoin Cash, and Ether donations in 2014, however a series of concerns forced the organization to reconsider this policy. Molly White, a longtime Wikipedia editor and the creator of Web3 Is Going Just Great, proposed to the Wikimedia Foundation in January that it stop accepting cryptocurrency donations, arguing that it contradicts the organization’s commitment to environmental sustainability and also signals that the Wikimedia Foundation supports “inherently predatory” investments.

White (who goes by the Wikipedia moniker GorillaWarfare) also mentioned Mozilla’s reconsideration of its involvement in the crypto field. Mozilla eventually chose to stop accepting cryptocurrency payments in April after getting outraged from users, developers, and one of its founders, Jamie Zawinski, for tweeting that it accepted Bitcoin and Ethereum donations.

“I’m really happy that the Wikimedia Foundation implemented the request from its community, and I’m really proud of my community for making what I feel was the ethical decision after a lot of thoughtful discussions,” White said in a statement to The Verge. “There are just too many issues with crypto for any potential donation revenue to be worth the cost of helping to legitimize it.”

“will continue to monitor this issue” and will “remain flexible and responsive to the needs of volunteers and donors,” The WMF concluded its update by saying it.