Just one day after President Joe Biden announced he would not run for re-election, the Democratic Party raised a staggering $100 million through its primary fundraising platform.
A recent Coinbase poll indicated that Donald Trump and Vice President Kamala Harris are in a tight race for support among cryptocurrency voters. The Democratic fundraising platform, ActBlue, reported this substantial amount was raised over a two-day period, according to a live tracker by Ryan Murphy from The Marshall Project. Though this figure is not an official tally, it reflects ActBlue’s donation totals since its establishment in 2004 and offers insight into fundraising performance ahead of upcoming disclosure deadlines.
On Sunday alone, contributions surged to $66.9 million in support of Harris’s presidential campaign launch, setting a record for fundraising in the 2024 election cycle for ActBlue. The previous best was noted on September 30, 2020, during the first presidential debate between Biden and Trump.
As a result of this donation surge, ActBlue surpassed $14 billion in total fundraising since its inception two decades ago. In contrast, WinRed, the Republican equivalent that started in late 2019, has raised approximately $4.3 billion, as reported by OpenSecrets.
ActBlue reported an influx of new, small-dollar donors making their initial contributions, expressing excitement about this grassroots momentum. Additionally, Future Forward, a super PAC aligned with Biden, secured $150 million in commitments from major donors within 24 hours of his announcement and endorsement of Harris. Another organization, Swing Left, raised over $160,000 in just one day to support the eventual Democratic nominee.
Evercore founder Roger Altman commented that Harris’s campaign will be “very well financed” and expressed his endorsement. Prominent Democratic donors George and Alex Soros have also shown support for Harris.
Biden’s previous record fundraising days were linked to a televised debate where he faced off against Trump, raising about $28 million immediately afterward. Biden also saw a significant influx of donations following Trump’s conviction on multiple felony counts.
In the months leading up to June, pro-Biden groups collected $332.4 million, while pro-Trump groups amassed $431.2 million, according to The Financial Times. By the end of June, Biden had $281 million available, compared to Trump’s $336.2 million.