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Photo: Sarah Rice/Getty Images

Elizabeth Warren reached 3 million donations faster than any other first-time presidential candidate, per a person familiar with the campaign's fundraising.

Why it matters: She reached this milestone today — about one week before Sen. Bernie Sanders did the same in 2016. While donations come from all over the country, the last-minute surge before the Iowa caucuses suggests growing momentum for Warren before the first nominating contests of 2020.

  • The campaign reached 2 million donations at the end of October and raised $21.2 million in 2019's fourth quarter.

The bottom line: Warren hasn't raised the most of any 2020 Democrat, but a surge in donations is a good sign for her campaign, which has stumbled slightly in recent polling.

Go deeper

13 mins ago - Podcasts

Podcast: After the Biden inaugural

Joe Biden was sworn in today as America's 46th president in an inauguration unlike any other in modern history.

Axios Re:Cap goes deeper into the speech, the atmosphere and what it all tells us about the incoming administration, with Axios political reporters Hans Nichols and Alexi McCammond.

Biden embarks on a consequential presidency

Photo illustration: Sarah Grillo/Axios. Photo: Joe Raedle/Getty Images

Donald Trump tried everything to delegitimize the rival who vanquished him. In reality, he's set Joe Biden on course to be a far more consequential U.S. president than he might otherwise have become.

The big picture: President Biden now confronts not just a pandemic, but massive political divisions and an assault on truth — and the aftermath of the assault on the Capitol two weeks ago that threatened democracy itself.

Updated 45 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: Representatives from all branches of the military escort the 46th president to the White House.