(CTN News) – On Tuesday, the Democratic National Committee and Vice President Joe Biden’s reelection campaign announced that they had raised $264 million in the second quarter of the year.

This is a staggering sum of money that could help them ease some of the party’s internal concerns about how poorly the debates went the week before.

The campaign claims to have received over thirty-three million dollars on the day of the debate and in the aftermath, having raised a total of one hundred twenty-seven million dollars in June alone. Furthermore,

According to Biden, he has a $240 million cash reserve.

A substantial increase over the $212 million it had last month. After a few hours, the campaign of former President Donald Trump, who will accept the Republican presidential nomination at this month’s Republican Party convention in Milwaukee, announced that it had raised an even larger sum of $331 million for the second quarter of fundraising.

This was more than Biden’s share over the course of the three months, but the Biden campaign noted that its $127 million haul in June exceeded the Republican Party’s $111.8 million total for the same month.

“A testament to the committed and growing base of supporters standing firmly behind the president,” was how Julie Chavez Rodriguez, the Biden campaign manager, described the totals her team had reached.

After a discussion in which the president sounded strained, nodded off, and occasionally gave intricate replies, they have questioned whether he can win the election in November.

The numbers have been made public as Biden’s staff tries to allay the worries of certain Democrats who have voiced doubts about the president’s ability to win the race.

Some of the campaign’s most powerful figures have called financiers and well-known surrogates multiple times since the debate, pleading with them to exercise patience.

However, sources close to the campaign emphasize that neither staff changes nor “whatsoever” talk of Biden dropping out of the race has occurred. When it came to fundraising early in the election,

Trump had a considerable advantage over Biden, but in recent years.

The former president has been able to bridge the difference. The totals received on Tuesday include the entirety of the second quarter and include the more than $51 million that Biden and the Democratic National Committee (DNC) reported raising in April.

In comparison, the combined amount disclosed by Trump and the Republican Party during that month was substantially less than $76 million.

Furthermore, it was disclosed by Trump that he had raised $141 million in May. Tens of millions of dollars in contributions came in after his criminal hush money trial resulted in a guilty verdict, supporting this amount.

Biden’s most recent quarterly total was enhanced by a sumptuous gathering he hosted in Los Angeles in June, which included former President Barack Obama and celebrities like George Clooney and Julia Roberts. With over thirty million dollars raised, the event set a new record for a Democratic challenger.

About half of the donations received following the debate, according to the presidential campaign, came from people who had never donated money before. Over 2.8 million contributions were made by over 1.5 million donors, and 95% of all gifts made in the second quarter were reported to be less than or equal to $200.

The campaign reported having 314,000 contributors at the end of the first quarter of 2024, which is almost 100,000 more than it had at the end of the March quarter.

The Biden campaign has helped open over 200 campaign offices in states that are considered to be battlegrounds by using its funds. These offices employ over a thousand people and work in conjunction with state Democratic parties. As per the Biden team, the campaign conducted 1,500 events in different battlegrounds after the debate that concluded over the weekend.

Democratic National Committee Chair Jaime Harrison stated, “Grassroots donors across the country are chipping in every day because they know that this election will determine the course of history.”