Jolt to Biden's re-election campaign as donors hold back USD 90 million pledged earlier

A major setback has hit President Joe Biden's re-election campaign as a group of fundraisers has decided to withhold $90 million in pledged contributions if he remains the Democratic presidential candidate. The New York Times reported on Friday that the frozen funds include multiple eight-figure commitments, as informed by anonymous sources due to the sensitivity of the situation. This decision follows Biden's poor debate performance on June 27 against Donald Trump, which has led to diminished support from key allies.