Just a day after President Joe Biden announced he would not run for re-election, the Democratic Party raised $100 million from donors through its primary fundraising platform, ActBlue.
A poll conducted by Coinbase reveals that Donald Trump and Vice President Kamala Harris are closely competing for support among cryptocurrency voters. ActBlue, a political action committee primarily supporting Democratic groups, reported this significant fundraising amount over the past two days, according to a live tracker maintained by Ryan Murphy of The Marshall Project. While the figure is not official and is derived from ActBlue’s historical donation tracker, it offers insight into the group’s fundraising success before any formal disclosures.
On Sunday alone, donations gathered for Harris’s presidential campaign amounted to $66.9 million, representing the highest single-day fundraising total for the 2024 election cycle for ActBlue. The previous record for fundraising occurred on September 30, 2020, when Biden and Trump participated in their first presidential debate.
Due to this surge in donations on Sunday, ActBlue has now raised a total of $14 billion since its inception two decades ago. In contrast, its Republican counterpart, WinRed, which began operations in late 2019, has raised approximately $4.3 billion.
ActBlue expressed enthusiasm about the influx of new contributors, 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!”
In addition, Future Forward, a super PAC aligned with Biden, secured $150 million in new commitments from major donors within 24 hours of Biden’s announcement and his endorsement of Harris. The group Swing Left reported raising over $160,000 in the same timeframe to support the eventual Democratic nominee.
Roger Altman, founder of Evercore, commented that Harris’s campaign would be “very well financed” and stated his support for her. Prominent Democratic donors, including George and Alex Soros, have also shown their backing.
Biden previously experienced significant fundraising days following his defeat by Trump during a televised debate on June 27, when he and his associated committees raised about $28 million. After Trump’s conviction on 34 felony counts, Biden garnered $19.2 million. Meanwhile, Trump and his affiliated groups raised $69 million from May 30 to May 31 after his conviction, causing a temporary crash of his campaign website. The super PAC Make America Great Again Inc. raised $70 million during that month.
Between April and June, pro-Biden groups brought in $332.4 million, while pro-Trump groups collected $431.2 million, leaving Biden with $281 million and Trump with $336.2 million available by the end of June.