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The Wikimedia Foundation (WMF), the organization that runs the online encyclopedia Wikipedia, will no longer accept donations in the form of cryptocurrency, the foundation announced Sunday.
See related article: Ukraine crypto donations top $36M amid Russian invasion
Fast facts
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The decision follows a vote concluded on April 12 where over 70% of the community voted to “discontinue direct acceptance of cryptocurrency as a means of donating.”
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The decision to discontinue crypto donations was linked to concerns about the environmental sustainability of the proof-of-work process, price volatility, and perceived reputational damage to the WMF.
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The Wikimedia community is made up of editors and other contributors to the free encyclopedia who also participate in the governance of the foundation.
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The WMF began accepting crypto donations in 2014 in response to community requests, eventually accepting Bitcoin, Ether, Ripple, Dogecoin and stablecoins.
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The foundation reported US$130,000 worth of crypto donations in the last financial year, or 0.08% of total donations.
See related article: Crypto donations rise by 1,558% on The Giving Block in 2021