Biden campaign, DNC jointly raised $81 million in May

Joe Biden's presidential campaign and two committees associated with the Democratic Party jointly raised nearly $81 million in May, Politico reports.

Why it matters: Biden deputy campaign manager Rufus Gifford points out that in addition to being the campaign's largest monthly haul of the 2020 cycle, it's also a larger total than the Obama campaign raised in May 2012 ($60 million) and the Clinton campaign raised in May 2016 ($38 million).

The big picture: May was the first full month in which Biden was the sole candidate running for the Democratic nomination, after Sen. Bernie Sanders suspended his campaign and endorsed Biden in April.

• Biden raised $60.5 million in April, before the joint fundraising venture with the Democratic National Committee — the Biden Victory Fund — was established, according to Politico.
• The joint venture allows individual donors to contribute up to $360,600 — a huge jump from the $5,600 maximum that an individual can donate to Biden's campaign.

By the numbers: Biden's campaign said in an email to supporters that its email list has grown by over 1.5 million in the month of June, including 300,000 subscribers in the last week alone. The campaign has tripled its number of online donors since February, per Politico.

The other side: President Trump continues to have an advantage over Biden in terms of cash on hand, Politico notes. The Trump campaign and the Republican National Committee jointly raised $61.7 million in April, but have not yet announced their May fundraising haul.