Former President Donald Trump pleaded not guilty on Thursday to federal charges that he plotted to overturn the 2020 elections. Trump is the GOP presidential frontrunner and has been indicted three times since launching his 2024 campaign. The former president is spending big on legal fees and that's one reason he's burning campaign cash fast.

The big picture: Trump isn't the only one blowing through money. Other Republican candidates have an even higher so-called "burn rate." We take a closer look at the numbers and why they matter for this phase of the campaign.

Guests: Axios' Stef Kight and Alex Fitzpatrick.

Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Fonda Mwangi, Lydia McMullen-Laird and Alex Sugiura. Music is composed by Evan Viola. You can reach us at [email protected]. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893.