Binance founder and former CEO Changpeng Zhao (CZ) introduced a novel communication feature dubbed “Pay to Reach.”

The feature aims to revolutionize online messaging, enabling individuals to send direct messages to him for a fee.

CZ Launches Pay to Reach

Announced 18 days prior on Binance Square, this initiative aims to streamline interactions and manage the daily influx of messages CZ receives. The “Pay to Reach” system operates through the platform ReachMe.io.

Users can pay 0.2 BNB (formerly Binance Coin) to send a direct message to Changpeng Zhao with a guaranteed response. Based on the BNB rate, $627.03 as of this writing, this translates to approximately $125.

Notably, this approach mirrors the “poor man’s version of the Buffett lunch,” offering direct access to influential figures in the crypto space.

CZ’s decision to implement this feature stems from the overwhelming number of messages he receives. Many of these communication attempts are brief or lack substantial content.

In a recent post, he highlighted the challenges of responding to messages or inquiries about various meme coins. To address this, he adjusted the messaging fee to 0.2 BNB to manage the volume and encourage more meaningful interactions.

“…I set the price to 0.1 BNB, but I still woke up with 100+ messages. I have since moved the price to 0.2 BNB, about $120. I will adjust the price to try to hit a sweet spot of about 10 messages per day,” the Binance executive shared.

The introduction of “Pay to Reach” has broader implications for the Binance ecosystem. By utilizing BNB as the medium for these transactions, the feature adds another use case for the crypto token. Specifically, it could increase its utility and demand.

Over 100 Key Opinion Leaders (KOLs) have joined the platform, setting their message prices between 0.01 to 0.2 BNB. Passing as a means to fund innovation also fosters a new avenue for monetized communication within the crypto community.

Noteworthy, Pay to Reach is entering a space that has already been colonized by players like time.fun, which is already in the market.

“Is this not time.fun?” one user posed.

It is important to note that ReachMe.io has explicitly stated that it does not have an official token associated with its platform. Users are advised to exercise caution and avoid tokens claiming affiliation with ReachMe.io, as they are likely scams.

“Reachme.io does not have an official token! Please all stay safe out there and be careful of what you buy…There is NO token associated with this project. Any token out there claiming to be associated is a scam,” the platform articulated.

Meanwhile, this development comes on the heels of recent controversies in the Binance ecosystem. Notably, CZ’s first decentralized exchange (DEX) trade involving the TST meme coin led to a 50% surge in its price, reflecting the significant influence he wields in the market.

Moreover, these incidents highlight the volatile nature of the crypto market and the substantial impact that prominent figures like CZ can have on the market.

Nevertheless, the “Pay to Reach” initiative reflects a growing niche in influencer-fan interactions within the crypto field. Monetizing direct communication establishes a structured channel for engagement, potentially reducing spam and fostering more meaningful exchanges.

However, it also raises questions about accessibility and the commercialization of traditionally free interactions. This prompts discussions about the balance between managing communication and maintaining open channels within the crypto ecosystem.

“No sign-up needed. All you need is a wallet. The fee is the gatekeeper,” CZ quipped.

Despite this news and the promise of increased utility, BNB’s price continues to decline, down almost 1% in the last 24 hours.  

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The US Senate has voted in favor of a motion to repeal an IRS rule targeting decentralized finance (DeFi) platforms. The motion now heads to President Donald Trump’s desk for his anticipated signature.

According to the latest reports, the resolution is close to becoming law, potentially by the end of this week.

Lawmakers Move to Overturn IRS DeFi Broker Rule

On March 26, the Senate voted 70-28 to pass H.J. Res. 25, introduced by Senator Ted Cruz and Representative Mike Carey. This vote marks the second time this month that the resolution has passed, following a 70-27 vote on March 4.

A procedural requirement regarding budget measures necessitated the re-vote after the House approved its version in a 292-132 tally.

“This clears the way for innovation in DeFi. This is bullish—less regulation, more growth, as we’ve been saying,” wrote Dan Gambardello on X.

Meanwhile, Eleanor Terrett, host of Crypto in America, revealed, citing a Republican Senate source, that the bill could become law as early as this Friday.

“Resolution to overturn IRS DeFi broker rule could become law by week’s end,” she stated.

Terrett added that if Trump signs the Congressional Review Act (CRA), it would be the first bill related to cryptocurrency to become law. Notably, earlier this month, David Sacks, White House’s AI and crypto czar, had declared support for the resolution. 

“If S.J. Res. 3 were presented to the President, his senior advisors would recommend that he sign it into law,” he posted

If passed, the resolution would mark a significant win for the cryptocurrency industry and a step toward reducing regulatory oversight in the DeFi sector.

The development comes amid a broader push for regulatory clarity. On March 26, the DeFi Education Fund, alongside a coalition of organizations, submitted a letter to leading US Senate and House Committees on Banking, Judiciary, and Financial Services members. 

The letter aims to address the Department of Justice’s (DOJ) misinterpretation of money transmission laws.

“We write to urge you to correct the Department of Justice’s (DOJ) unprecedented and overly expansive interpretation of the criminal code provision proscribing operating an “unlicensed money transmitting business” as applied to software developers,” the letter read.

The coalition argues that the DOJ’s interpretation creates ambiguity. This could criminalize software developers working in the blockchain space.

Specifically, it would impact those using non-custodial technologies who do not control or possess customer funds. This position could threaten the viability of US-based software development in the digital asset industry and beyond.

Furthermore, the letter emphasizes that the DOJ’s stance contradicts existing guidance from the Financial Crimes Enforcement Network (FinCEN) and previous legal interpretations. Thus, it could potentially lead to overreach and unfair treatment of blockchain developers. 

The signatories, including Paradigm, A16z Crypto, Polygon Labs, Coinbase, Kraken, and others, request that Congress urge the DOJ to clarify its position. They aim to ensure alignment with legal precedent and congressional intent and prevent the stifling of innovation in the US tech sector.