Wikipedia Stops Accepting Cryptocurrencies as Donations

Wikimedia, the foundation backing Wikipedia, received an appeal at the beginning of 2022: refuse cryptocurrency donations. The discussion that followed the request recorded usual tiffs in favor and opposed to the suggestion. Some called crypto an eco-disaster – perceived as approving of the devastation of the environment – and ratification of the cryptocurrency community.

Advocates of cryptos pointed out that proof-of-stake (PoS) would resolve the environmental worries and fiat currency is not totally green as well, and cryptocurrency offers great security along with anonymous usage.

During the discussion, the foundation revealed that in its earlier fiscal year, cryptocurrency accounted for just 0.08% of revenue aggregating $130,101, with 347 donators using crypto, mostly Bitcoin (BTC), for payment. Out of the 400 votes cast, 232 called for a ban of the crypto, while 94 favored crypto.

During the weekend, Lisa Seitz-Gruwell, chief advancement officer of Wikimedia Foundation, disclosed the response of the foundation.

Seitz-Gruwell stated “The Wikimedia Foundation has chosen to stop accepting cryptocurrencies as a mode of donation.”

“Judging by latest input from these groups, we have decided to implement this policy. We will close our Bitpay crypto account, making it impossible for us to receive donations made in cryptocurrencies.”

Seitz-Gruwell further stated that the foundation would pursue tracking the budding problem, and the foundation would stay capable of adapting to the changing demands of both volunteers and funders.