Sen. Ted Cruz's Democratic challenger Beto O'Rourke has raised more than $38 million in the third quarter, all from individual contributions, he announced on Friday morning.

The big picture: O'Rourke prides himself on not taking money from political action committees (PACs), and he's now set the record for biggest fundraising quarter in single a senate race. But the news doesn't guarantee he'll come out on top in November. Don't forget Rep. Rick Lazio, who challenged Hillary Clinton in 2000, and raked in in $22 million in the same quarter. Ultimately, he lost the race. And the latest poll from the New York Times puts Cruz 8 points ahead of O'Rourke.

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Judge orders Eric Trump to testify in New York probe before election

Photo: Ira L. Black/Corbis via Getty Images

A judge on Wednesday ordered Eric Trump to comply with a subpoena to testify before the presidential election in a New York probe into the Trump family business.

The state of play: New York Attorney General Letitia James (D) last month said her office had filed a lawsuit to compel the Trump Organization to comply with subpoenas related to an investigation into whether President Trump and his company improperly inflated the value of its assets on financial statements.

1 hour ago - Podcasts

Reid Hoffman and Mark Pincus on the rise of Silicon Valley SPACs

Silicon Valley venture capitalists are no longer content with investing in startups and then eventually handing them off. Instead, many are now forming SPACs, or blank-check acquisition companies, to ride tech unicorns into the public markets themselves.

Axios Re:Cap digs into this trend with the co-founders of a new tech SPAC called Reinvent Technology Partners: Reid Hoffman, a co-founder of LinkedIn and partner at Greylock, and Mark Pincus, the founder and former CEO of Zynga.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 31,717,955 — Total deaths: 973,014 Total recoveries: 21,795,005Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 6,913,046 — Total deaths: 201,319 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Fauci clashes with Rand Paul at COVID hearing: "You're not listening" — FDA chief vows agency will not accept political pressure on coronavirus vaccine.
  5. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  6. Sports: Less travel is causing the NBA to see better basketball.

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