The Wikimedia Foundation has stopped accepting Cryptocurrency donations officially from Sunday.
According to Wikimedia’s Chief Advancement Officer, Lisa Seitz Gruwell, It has begun accepting cryptocurrency donations in the year 2014 as a request from its volunteers and the community of donors and their recent feedback has led the foundation to stop accepting the donations in Crypto mode. She also added that the WMF would close the Bitpay account soon.
The announcement was done after the Wikimedia editors and community voted to stop taking donations in cryptocurrency citing its predatory nature of scamminess in April. In the poll, about 71% of voters were in the favor of stopping the crypto donation and followed around three months of debate.
The proposal to exit the crypto market was made by Molly White. She documented many thefts, and scams related to “blockchain-based projects” on her Twitter account and throw her concern about the matter that crypto is very volatile as a regular source of donations.
In the last year, cryptocurrency donations accounted for just 0.08% of the total donations the Wikimedia Foundation received.
Other non-profit foundations like Mozilla Foundation and World Wildlife Fund also backed from taking donations based on blockchain and fundraising efforts.