The founder of Binance, CZ, has increased the fee for messaging him on ReachMe, a paid communication platform he has recently started using, after being inundated with messages.
On March 27, CZ provided an update on X regarding his experience with ReachMe, a service designed to help influencers monetize their direct messages. Initially, he set the fee at 0.04 Binance Coin (BNB), approximately $24 per message, but soon found himself overwhelmed by spam and irrelevant inquiries.
Even after raising the fee to 0.1 BNB ($60), he continued to receive an excessive number of messages. Consequently, he has now established the charge at 0.2 BNB ($120) per message. CZ aims to achieve a manageable rate of around 10 messages per day, though he is skeptical about reaching that target. He pointed out that many messages are often either too brief or overly general, with questions like, “How do I run a successful startup?”
CZ has also stated that he does not intend to benefit personally from this system. Instead, he plans to donate the money generated from these messages to charity. His main objective is to find a way to handle the overwhelming number of individuals attempting to contact him.
CZ first proposed the idea of a pay-to-reach platform in a March 8 article, asserting that conventional messaging systems like LinkedIn and X have minimal barriers, resulting in an increase in spam. He envisioned establishing a mechanism where prominent figures, often referred to as Key Opinion Leaders, could charge for receiving messages.
This would help eliminate low-effort queries and ensure that only serious requests are addressed. According to his concept, if a KOL did not respond within five days, half of the fee would be refunded to the sender.
This approach would impose some costs on the sender, thereby discouraging spam while motivating the KOL to respond. Additionally, the platform would retain a 10% fee from transactions, with 90% going directly to the recipient.
Just 18 days after presenting this idea, a developer reached out to CZ with a working prototype. Following discussions and a security review, the platform was launched. Although ReachMe is still in its infancy, CZ’s involvement, along with potential support from YZi Labs (formerly Binance Labs), could pave the way for it to become a prominent platform where professionals can effectively monetize their availability.