Biden raises $127 million in June, with $240 million cash on hand

The big picture: The presumptive Republican presidential nominee's campaign hasn't released its totals for June.

• The Biden-Harris campaign entered July with $240 million in cash on hand, and said that nearly two-thirds of June's harvest came from grassroots donors.
• The campaign reserved $50 million in ad buys in June, and has been building out field offices in swing states.
• But even with all the money Biden has spent, and Trump's criminal convictions, the race is essentially unchanged.
• Trump showed his biggest lead yet over Biden among likely voters in a New York Times/Siena College poll last week. The Times noted the poll was an outlier.

State of play: After months of trouncing Trump and the Republican National Committee in fundraising, Biden's team raised less than the other side in April and May.

• Trump saw massive influxes of cash after his criminal conviction in his New York hush-money case.

• Democratic donors are awaiting public opinion polls from major newspapers before making a call on whether Biden should continue as their party's nominee.

What they are saying: "This election will be close and the stakes couldn't be higher — which is why today's fundraising haul matters so much," Biden-Harris campaign manager Julie Chávez Rodríguez said.

• "It will ensure that we reach and mobilize the voters who will decide this election every single day," she said.