Following President Joe Biden’s announcement that he would not run for re-election, the Democratic Party generated an impressive $100 million from donors through its primary fundraising platform, ActBlue.
In a recent poll conducted by Coinbase, Donald Trump and Vice President Kamala Harris are found to be in a close race for the support of cryptocurrency voters.
ActBlue, a political action committee dedicated to fundraising for Democratic initiatives, recorded this substantial amount within just two days, as indicated by data from Ryan Murphy, a developer at The Marshall Project. While this figure is not officially verified, it reflects the group’s fundraising performance ahead of any required financial disclosures.
On Sunday, donors contributed a staggering $66.9 million to kick off Harris’s presidential campaign, marking the most successful fundraising day for ActBlue in the 2024 election cycle. The previous record for donations was set on September 30, 2020, during the first presidential debate between Biden and Trump, according to Murphy’s data.
With the donation surge this past Sunday, ActBlue reached a milestone of $14 billion raised since it was established two decades ago. In comparison, WinRed, the Republican fundraising platform launched in 2019, has accumulated about $4.3 billion in donations during the same period.
ActBlue expressed enthusiasm over the influx of new small-dollar donors, stating, “We’ve seen so many folks saying they made their first ever donation in the last 24 hours! It’s so motivating to see new small-dollar donors join the grassroots movement!”
Additionally, Future Forward, a super PAC aligned with Biden, reported securing $150 million in new commitments from large donors shortly after Biden’s announcement and his endorsement of Harris. Another Democratic initiative, Swing Left, mentioned it raised over $160,000 within 24 hours to support the eventual Democratic nominee.
Roger Altman, founder of Evercore, commented on Monday that Harris’s campaign would be “very well financed” and expressed his support. Prominent Democratic donors like George and Alex Soros have also thrown their support behind Harris.
Historically, Biden’s most significant fundraising days previously occurred following his debate losses to Trump, including raising approximately $28 million between June 27 and June 28. Following Trump’s conviction on numerous felony counts, Biden raised $19.2 million shortly after, while Trump and his affiliated groups raised $69 million in the days surrounding his conviction. This surge briefly overwhelmed Trump’s campaign website. The super PAC Make America Great Again Inc. raised $70 million in that month alone.
From April to June, pro-Biden groups gathered $332.4 million, while pro-Trump groups raised $431.2 million, leaving Biden with $281 million on hand compared to Trump’s $336.2 million by the end of June.