A political action committee (PAC) supporting Trump raised $7.50 million in the third quarter, including David Bailey of Bitcoin Magazine, who contributed $500,000 in bitcoin, and Gary Cardonay, an American investor, who donated $840,000 in bitcoin. Ripple's chief legal officer Stuart Alderoty donated 624,000 XRP, worth about $300,000.
Musk responded to Wall Street Day's news that "Musk plans to donate $45 million a month to a pro-Trump political action committee (PAC)," calling it fake news. It is reported that "fake gnus" is a homonym for "fake news" (fake news). The term is often used to satirize or make fun of content that spreads false or misleading information.