Wikipedia Stops Accepting BTC, ETH, BCH Donations After 8 Years. He stated that this is because the Wikipedia community does not like it and it will damage the reputation of the institution.
The Wikimedia Foundation (WMF) has decided not to accept donations of cryptocurrencies (WMF, Bitcoin, Ethereum and Bitcoin Cash) after months of debate.
Wikimedia editor Molly White has sparked a discussion in the Wikimedia community to reconsider her decision to accept cryptocurrency as donations. The members supported Molly in the online discussion that lasted for about 3 months.
The most important counter-argument is that accepting donations harms Wikimedia’s reputation.
Members voted 71.17% to cut crypto donations. Then they demanded that the donations be stopped.
Wikimedia Discontinues Crypto Donations
On May 1, Molly announced that the request had been granted. He announced that they have now stopped accepting krito donations.
“The Wikimedia Foundation has decided to stop accepting cryptocurrency donations. The decision was based on a community request that WMF no longer accept crypto donations, which emerged from a quarterly debate that ended earlier this month.”
Wikimedia first started accepting cryptocurrency donations in 2014. After that, he closes his Wikimedia Bitpay account and ends his crypto donation.
WMF Received $130,000 in Crypto Donations in 2021
This donation decision started with the question of how much donation do you get to Molly White. Last year, he received just over $130,000 in crypto donations. The most donated cryptocurrency was BTC.
In addition, many topics were discussed in the discussion, such as money laundering, crypto currency fraud, nickname donation, mining ban in Russia, fiat money system of central banks.
Crypto Donations: A Topic of Growing Importance
This decision by Wikimedia showed the increase in crypto donations.
Ukraine has received over $100 million in crypto donations so far. Fearing Russian interference, Ireland has banned crypto donations for political parties.
Mark Right, a Republican member of Louisiana, has introduced a bill that seeks to establish rules for crypto donations for political campaigns.