Just a day after President Joe Biden announced he would not seek re-election, Democrats reported raising $100 million from donors via ActBlue, their primary fundraising platform.
A poll by Coinbase indicates that Donald Trump and Kamala Harris are closely competing for the support of cryptocurrency voters. ActBlue, a political action committee supporting Democratic initiatives, noted that this impressive fundraising total was achieved in just two days, as tracked by developer Ryan Murphy of The Marshall Project. While this figure is not officially verified, it highlights ActBlue’s fundraising progress prior to forthcoming required disclosures.
On Sunday alone, contributions reached $66.9 million for the launch of Vice President Kamala Harris’s presidential campaign, marking the largest single-day fundraising total for ActBlue in the 2024 cycle. This surpasses even the previous high, which occurred on September 30, 2020, coinciding with the first presidential debate between Biden and Trump.
As a result of the fundraising boost on Sunday, ActBlue surpassed $14 billion in total cash raised since its establishment two decades ago. In contrast, WinRed, a fundraising platform for Republicans that began operating in late 2019, has raised approximately $4.3 billion, according to OpenSecrets.
ActBlue expressed enthusiasm on X, formerly Twitter, stating that many new donors reported making their first contributions in the last 24 hours. They described this influx of small-dollar donations as an encouraging sign for grassroots efforts.
Additionally, Future Forward, a super PAC associated with Biden, secured $150 million in new commitments from major donors shortly after Biden’s announcement and his endorsement of Harris. Swing Left, which initiated a fund in support of the eventual Democratic nominee, claimed it raised over $160,000 within 24 hours.
Roger Altman, the founder of Evercore, remarked that Harris’s campaign is poised for substantial financial backing and pledged his support. Prominent Democratic donors George and Alex Soros have also shown their support for Harris.
Historically, Biden’s most successful fundraising moments have followed significant political events. For example, after being outperformed by Trump in a televised debate on June 27, 2020, Biden’s campaigns raised about $28 million in the following days. In the wake of Trump’s conviction on 34 felony counts, Biden raised $19.2 million, while Trump and his affiliated organizations garnered $69 million from May 30 to May 31, briefly overwhelming Trump’s campaign website. The super PAC aligned with Trump, Make America Great Again Inc., accumulated $70 million during that month.
From April to June, groups supporting Biden raised $332.4 million, while those supporting Trump received $431.2 million. By the end of June, Biden was reported to have $281 million in funds, compared to Trump’s $336.2 million.