Wikimedia Foundation Closes BitPay Account, Ending Accepting Cryptocurrency Donations

Recently, the Wikimedia Foundation, the organization behind Wikipedia, announced that it would discontinue its ties with BitPay, effectively ending accepting cryptocurrency donations, based on feedback collected from the community.

The decision to end cryptocurrency donations was made after 232 members, or 71% of the Wikimedia Foundation (WMF) community voted in favor of a proposal made on January 10, citing Energy consumptionease of use for sanctioned individuals, exposure to cryptocurrency scams and environmental sustainability issues.

These issues have raised concerns about how accepting cryptocurrencies could damage the institution’s long-term reputation. Wikipedia is an open source online encyclopedia, while BitPay is an encrypted payment service.

In an update shared Sunday about the original WMF proposal, Senior Progress Officer Lisa Seitz-Gruel said:

“The Wikimedia Foundation has decided to end the direct acceptance of cryptocurrency as a donation method […] Specifically, we will be closing our BitPay account, which will remove our ability to accept cryptocurrency directly as a donation method.”

The proposal and the ensuing discussion unfolded in 2021 About $130,000 was raised in crypto donations, Which represents 0.08% of the total income of the enterprise. As a result, it is likely that the enterprise will not suffer financially as a result of the latest decision.

The Wikimedia Foundation has decided to stop accepting cryptocurrency donations. The decision was made on the basis of a request from the WMF community, which stemmed from a 90-day discussion that concluded earlier this month.

WMF member GorillaWarfare applauded the decision and commented “This is great news. Thank you for listening to the community.”

On the contrary, an opponent of the ban whose ID number is “95.91.212.65.01” reported:

“It’s a shame. Especially for the last argument, which turned out to be purely reactionary. Compare the reception of donations by the media to Ukraine adopting cryptocurrency just a few weeks later.”

in january, Mozilla made a similar choicebanned crypto donations for its Firefox browser, then partially reversed the decision during April, beginning to accept active cryptocurrencies only on Proof of Stake (PoS) networks, such as Polygon.

Finally, the ban’s proponents do not appear to be threatened by the backlash of the crypto community. In support of the ban, a member of the Dronebogus Foundation reported:

“Wikimedia is the largest free educational group on the web on the planet, What would Joe Crypto do to ‘destroy us’? Write a bad editorial? Tell his 650 Twitter followers to go to Everipedia?”.

Everipedia is a competing online blockchain-based encyclopedia. It is interesting, despite everything, how the Wikimedia Foundation has been accepting cryptocurrency donations since 2014.

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