Biden’s Campaign on the Brink: Top Adviser Warns of Donor Exodus

A well-connected advisor and fundraising coordinator for President Biden's campaign is reportedly warning that donations are at risk of drying up, according to reports. 

Film producer and Democratic insider Jeffrey Katzenberg reportedly spoke with Biden in a private meeting in Las Vegas, Nevada, on Wednesday. 

During the meeting, Katzenberg allegedly told the president that major donors were likely to cut funding due to concerns about the campaign's viability, according to a report from Semafor.

Following the report, Katzenberg released a statement saying the characterization was inaccurate and that the two had "talked about everything from the convention to new ads."

"And by the way, we will raise the money we need to run a winning campaign," he added.

Fox News Digital reached out to the White House for clarification on the nature of the conversation.

Democratic lawmakers and candidates across the country fear that Biden's plummeting support since his disastrous performance at the first presidential debate will have ramifications for down-ballot elections.

Party leaders have been considering plans to nominate Biden as soon as next week, ostensibly due to concerns that the Aug. 17 date for the Democratic National Convention comes after Ohio's ballot deadline.

Former House Speaker Nancy Pelosi reportedly talked to Biden over the phone and presented polling that suggested the president's re-election campaign was tanking Democrats' chances on the ticket, according to multiple reports.

"The speaker does not want to call on him to resign, but she will do everything in her power to make sure it happens," one source familiar with the call told the outlet.

This article originally appeared on Fox Business.