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Using crypto, such as Bitcoin (BTC) and Ethereum (ETH), for donations has been gaining in popularity lately. For instance, people from all over the world have been sending crypto donations to Ukraine to help in its fight against Russia’s invasion.
However, Wikimedia Foundation, the organization running the open online encyclopedia Wikipedia, appears to be going the opposite direction when it comes to crypto donations. While the organization is among the first organizations that started accepting donations in digital currencies, Wikimedia recently announced that it will no longer accept crypto donations.
“The Wikimedia Foundation has decided to discontinue direct acceptance of cryptocurrency as a means of donating,” the organization wrote in a post on Wikipedia. “We began our direct acceptance of cryptocurrency in 2014 based on requests from our volunteers and donor communities. We are making this decision based on recent feedback from those same communities.”
The Wikimedia Foundation (WMF) is among the first organizations that started accepting crypto donations as it started accepting Bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH) in 2014, according to The Verge. However, longtime Wikipedia editor Molly White made a proposal at the start of 2022 for the WMF to top accepting crypto donations.
White argued crypto is “extremely damaging to the environment” and that accepting donations in digital currencies is a tacit endorsement of “extremely risky investments,” according to Fortune. After a lengthy discussion, most of the WMF community who participated in the debate sided with White with 234 members in favor of the discontinuation of crypto donations while only 94 wanted the status quo.
However, doing away with crypto donations will not significantly affect WMF’s funding efforts. In 2021, the organization received $130,100.94 worth of cryptocurrency, which is just 0.08 percent of the total contributions it received for the whole year.
“We will be closing our Bitpay account, which will remove our ability to directly accept cryptocurrency as a method of donating,” WMF added.
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