Wikileaks funding crisis

Wikileaks funding crisis

The future of Wikileaks is looking increasingly problematic.

McClatchy news reports that Wikileaks could be in financial trouble because Visa, MasterCard and PayPal have refused for more than 10 months to process donations made on its behalf.

Wikileaks says it will announce a new fund raising next week but no one knows whether that will work as more than 90 percent of online transactions are handled through credit cards. "That means donors wishing to contribute to WikiLeaks must send money to two European bank accounts, a process that is both cumbersome and expensive."

So how much does Wikileaks need to stay in business? In this interview, founder Julian Assange puts it at about $600,000 a year, give or take a few hundred thousand here and there.

In July, Wikileaks and DataCell, which handles credit card payment processing on its behalf, announced they intend to sue Visa and Mastercard after the credit card merchants blocked donations to WikiLeaks last year but so far, nothing has happened.

It sounds touch and go. The world will have lost an important news source if the end comes.


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