In February alone, the campaign amassed an impressive $53 million, surpassing the $42 million raised the previous month.

These figures encompass the contributions received by the Biden-Harris campaign, the Democratic National Committee (DNC), and their joint fundraising committees. Notably, this marks the fourth consecutive month of fundraising growth, highlighting the campaign's increasing momentum.

Julie Chavez Rodriguez, the Biden-Harris 2024 campaign manager, expressed pride in the unprecedented fundraising achievements, emphasizing that the funds raised will be invested in reaching voters and highlighting the importance of this election.

In contrast to the Biden-Harris campaign's financial fortunes, the Republican National Committee (RNC) has faced internal turmoil, with recent reports of dozens of staffers being fired in a major shakeup. Last year, the RNC had its worst fundraising year in three decades, collecting a mere $87.2 million adjusted for inflation. By the end of the year, the organization had only $8 million cash on hand, according to the Federal Election Commission (FEC).

Comparatively, the DNC enjoyed a more successful fundraising year, amassing $119 million and concluding with approximately $21 million cash on hand, as reported by the FEC.

Former President Donald Trump has taken steps to address the financial challenges faced by the RNC. He appointed Michael Whatley as the organization's chair, named senior campaign adviser Chris LaCivita as Chief Operating Officer, and appointed his daughter-in-law, Lara Trump, as co-chair.

Jaime Harrison, the DNC Chair, used the opportunity to criticize the RNC's financial state, emphasizing the remarkable grassroots fundraising efforts of Biden and the Democrats. "Our grassroots supporters know that the stakes of this year could not be higher, and they're chipping in like our democracy is on the line - because it is," Harrison remarked.

Though Trump and the RNC have not yet released their fundraising totals for February, at the end of January, they trailed behind Biden and the DNC by approximately $41 million. Trump's ongoing legal battles, involving 88 criminal counts, have further strained his financial resources, with his campaign funds being used to cover mounting legal expenses.

Despite financial challenges, recent polls indicate that Trump maintains an advantage over his successor, both nationally and in key battleground states, according to RealClearPolitics.

Both Trump and Biden secured their respective party's nominations for the presidency last week, marking a significant milestone in the race towards the 2024 elections. With record-breaking fundraising, the Biden-Harris campaign aims to leverage their financial advantage to mobilize voters and promote their vision for the future.