US President Joe Biden (Photo: Reuters).
President Joe Biden raised more than $53 million for his re-election campaign and the Democratic Party in February, a record for a single month.
Biden and the Democratic Party ended February with $155 million in cash on hand, the most ever accumulated by a Democratic candidate at this point in history.
He also received the largest amount of donations from small donors ever, breaking the record set three months earlier.
Mr Biden has raised more than $331 million since launching his re-election effort last April and has a huge financial advantage over his Republican rival and former president Donald Trump, who has yet to report February figures.
Both campaigns are required to report details of their fundraising totals to the Federal Election Commission by March 20.
In February alone, 469,000 donors contributed $562,000 to Mr. Biden’s re-election effort.
In a previous Bloomberg survey, Mr. Trump was leading Mr. Biden in seven battleground states.
However, Democratic National Committee Chairman Jaime Harrison said in a close election, the outcome could come down to whichever side has a better chance of winning votes.
He said Mr. Biden's fundraising numbers were unprecedented and "historic."
Mr Biden's campaign is hoping to capitalise on the legal troubles Mr Trump is facing amid allegations and unfavourable rulings that have cost the former US president some of his campaign funding.
Mr. Trump also had to spend millions of dollars in the primary election to compete with Republican candidates such as Florida Governor Ron DeSantis and former ambassador to the United Nations Nikki Haley...
Meanwhile, Mr. Biden has no major opponents in the race for the Democratic nomination.
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