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Founder announces suspension of publishing and says site has been deprived of 95% of its revenue and could fold by new year WikiLeaks could be driven out of existence by the new year if it is unable to challenge a financial blockade by banks and credit card companies including Visa, MasterCard and PayPal, the website’s founder Julian Assange has said. Announcing a “temporary suspension” of the whistleblowing website’s publishing activities, Assange said the site had been deprived of 95% of its revenue by the “dangerous, oppressive and undemocratic” blockade, and now needed to direct its energy purely into “aggressive fundraising” to fight for the organisation’s survival. “This financial blockade is an existential threat to WikiLeaks. If the blockade is not borne down by the end of the year the organisation cannot continue its work,” Assange told a news conference in central London. The announcement is the most open acknowledgement of the site’s perilous financial situation since a clutch of financial operators blocked donations in the days after its publication of leaked US embassy cables in November last year. Paypal, Visa, MasterCard, Bank of America, Western Union and Post Finance cut financial ties following the release, through the Guardian and other media partners, while Every DNS withdrew its domain hosting service. The website has begun “pre-litigation action” in Britain, Iceland, Denmark, Belgium, the United States and Australia against the blockade, said Assange, and an action pressing the European competition authorities to investigate the “wrongdoing of Visa and MasterCard” is ongoing. Assange said the financial companies had bowed to pressure from “a political grouping in the US” to block payments to the site, while the US treasury, among other organisations, had found no grounds for the blockade. “The most powerful players in the banking industry have been shown to be an arm of rightwing America,” he said, adding: “A handful of US financial companies cannot be allowed to decide how the whole world votes with its pocket.” Donations had slumped from a monthly average of €100,000 (£87,000) at the end of 2010 to an average of €6-7,000 during 2010. Based on the rate of donations on the day the blockade was imposed, WikiLeaks argues it has been deprived of between €40m and €50m. Assange, 40, remains on bail pending a ruling on his appeal against extradition to Sweden to answer allegations of rape and sexual assault. Asked about his own legal fees in that case, he said: “WikiLeaks collected monies have never gone to the Swedish case to which I am subject.” He is soliciting donations towards his personal legal fees, but through separate accounts, he said. The website needs $3.5m (£2.2m) to get through the next 12 months, Assange said. “Unusually for a hi-tech organisation,” he said, “it is now accepting cheques and cash sent in the post as well as donations via more modern means such as by text message.” A new fundraising page on the WikiLeaks website urges supporters to use bank transfers, post cash or cheques or buy “revenue-generating gifts” – WikiLeaks- or Assange-branded merchandise including T-shirts and wallets and “dog bandanas” – to raise money. A number of smaller online suppliers including BitCoin and Flattr will process WikiLeaks donations. Assange acknowledged, however, that the organisation would also need to recruit “a constellation of wealthy individuals from different nations” to help it to meet legal and publishing costs. • James Ball on why the bankers’ blockade of WikiLeaks must end WikiLeaks Julian Assange Esther Addley guardian.co.uk