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Author: Bill Allison, Bloomberg; Compiled by: Tao Zhu, Bitchain Vision
Donald Trump raised $331 million in the second quarter, a fundraising that gives him more cash on hand than President Joe Biden, this development could exacerbate the anxiety of the Democratic campaign over the incumbent presidential campaign.
The amount Trump and the Republican National Committee raised more than the $264 million raised by Biden and the Democratic National Committee this quarter.The campaign said it currently has nearly $285 million in cash on hand, while Biden reported $240 million in cash — a shocking reversal in a fundraising war that has been crushing the president’s war money for monthsopponent.
“Winning this quarter gives us a cash advantage on hand,” said senior Trump campaign officials Chris LaCivita and Susie Wiles in a joint statement.. ” They lashed out“Biden’s money burn rate has been rising, but it has not brought them any real results.”
Trump defeated Biden in the months of April and May, his first win in the monthly money contest.But the Republican presumed candidate’s fundraising in June failed to meet expectations, with Biden raising $127 million and Trump reaching $112 million.
However, Trump’s cash advantage hit Biden when his campaign was facing rigorous scrutiny from his Democratic colleagues, a disastrous debate sparked calls for him to step down and get another candidate to run for the election.
Biden’s campaign responded anger to calls from party members, lawmakers and media outlets to not seek reelection.Biden sought to mobilize donors during a fundraiser over the weekend so he could beat Trump and plans to speak with the Democratic governor on Wednesday.
His campaign released June and quarterly fundraising totals on Monday to showcase strength and alleviate donor anxiety.Officials say Biden has spent his best fundraising month yet, and even as the reelection team invested in paid media and staffed offices in battlefield states, they managed to amass cash.
Biden’s campaign said $38 million has been raised in four days since the June 27 debate day.Trump’s campaign said $8 million was raised on the day of the event, but did not announce the latest total.
In Trump’s case, he has increased his appeal to wealthy donors and used Republican anger at Biden’s conviction at the Manhattan trial on May 30 for hiding hush fees, thus eliminating Bidenfundraising advantages.The campaign said Trump raised $52.8 million online within 24 hours of his verdict, making him the first former U.S. president in history to be convicted of a felony.
Trump was in a weaker financial position early in the campaign, when his vault was exhausted by legal challenges and a controversial primary that attracted more than a dozen challengers.
Some of the party’s biggest donors have opened checkbooks for Trump.Cryptocurrency billionaires Tyler Winklevoss and Cameron Winklevoss each donated $844,600 worth of Bitcoin to the Trump 47 Commission, which raised funds for Trump’s campaign and the Republican Party.Steve Schwarzman, CEO of Las Vegas Sands Group and Blackstone billionaire Miriam Adelson, both donated to him in May.
