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Ministers of finance from the BRICS group of developing nations called for an IMF overhaul that will redistribute voting rights and end a tradition of putting a European at the fund’s helm.
The unified proposal, which is a first for the growing organization that aspires to represent the Global South, will be discussed at an IMF meeting later this year that will review the current quota system.
BRICS finance ministers propose changes to the IMF
The finance ministers of the countries forming the BRICS bloc are calling for reforming the International Monetary Fund (IMF) in a joint statement presenting their shared stance on the matter for the first time, as reported by Reuters.
Introducing a new formula for distributing voting rights and ending an informal rule to appoint European management of the fund are part of the proposal, approved at a meeting preceding the BRICS Leaders Summit in Brazil on Sunday.
The ministers convened in Rio de Janeiro on Saturday and agreed to support the unified position for the upcoming IMF meeting in December devoted to reviewing changes to the fund’s quota system that also determines contributions.
Insisting that the new distribution mechanism should increase quotas for developing countries, the government officials from BRICS stated:
“Quota realignment should reflect members’ relative positions in the global economy, while protecting the quota shares of the poorest members.”
The revised formula must be weighted by economic output and purchasing power, while taking into account the relative value of currencies, the finance ministers emphasized. That should better represent low-income countries, according to a Brazilian official, quoted in the report.
BRICS influence grows with membership
BRICS, which was founded by Brazil, Russia, India, and China, held its first ministerial meeting in 2006 and its first summit in 2009, before South Africa joined the group in 2010. The organization has since added Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates as full members.
In 2024, it invited Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam to participate as “partner countries,” bringing the total of nations involved to 23.
“That has added diplomatic clout to the group, which aims to speak for developing nations in the Global South, urging reforms of institutions long dominated by traditional Western powers,” Reuters noted.
In that context, BRICS is also proposing to put an end to a historic tradition of picking a European to head the International Monetary Fund. Its finance ministers made that clear in their statement:
“With full respect to a merit-based selection process, regional representation must be enhanced for the IMF management, overcoming the anachronistic post-World War II gentlemen’s agreement that is unfit for the current world order.”
Group confirms talks on NDB guarantee mechanism
The document also confirmed plans to establish a new guarantee mechanism backed by the group’s New Development Bank (NDB), which is supposed to cut financing costs and boost investment in developing countries.
The main role of the BRICS-funded NDB is to support public and private projects through loans, guarantees and other financial instruments. The Shanghai-based bank was established a decade ago and has a dozen members now, expanding its scope beyond BRICS.
On Friday, Russian Finance Minister Anton Siluanov, who is also in Brazil, revealed that the financial assets of BRICS nations have surpassed $60 trillion and urged for attracting more capital, including by employing digital financial assets.
Meanwhile, Indonesia’s Deputy Finance Minister Thomas Djiwandono was quoted by the Antara news agency as stating that the BRICS’ development bank will not evolve into a dominant institution like the International Monetary Fund or the World Bank.
Speaking to the Indonesian media outlet in Rio, he elaborated that the BRICS approach to governance, which emphasizes equality and mutual respect among member states, sets the NDB apart from traditional global financial institutions.

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The best time to start was yesterday, the next best time is today
A lot of money is earned by everyone who responsibly 'trades' Alpha Points day after day. For example, the average income per capita worldwide is ~811$/month. In recent months, Binance Alpha has brought ~1500$ per account… And what if you are trading 'as a family'?
Let's start with the fact that Alpha is a relatively new reward system on the exchange aimed at stimulating user activity, where we farm Alpha Points.
What are points given for?
- For balance on the exchange and trading volume (just bought-sold) with Alpha tokens
How much do you need to hold?
- For 100+ USDT in balance, you will receive +1 point, for >1000 - 2 points, for >10000 - 3 points. Decide how much you are comfortable with.
How much do you need to trade?
For 2$ of trading volume, you receive +1 point,
4$ - 2 points
8$ - 3 points
...
1,024$ volume - 10 points
2,048$ volume - 11 points
...
16,384$ volume - 14 points
32,768$ volume - 15 points
and so on.
❕ All points are credited every day, and your balance is calculated as the sum of all points for the last 15 days
The simplest tactic:
1) Hold 1020$ on Binance (directly on the exchange, not in the wallet)
2) Go to the Markets section, Alpha
3) Choose the most stable token with the highest trading volume (currently this is $BR)
4) And just start clicking BUY-SELL
In total, for the day we have +2 points for balance + 14-15 points for volume (can be more)
❗️And here are 2 points that will allow you to farm more efficiently and profitably:
1. Trade only with LIMIT ORDERS, no market orders
2. Only your purchases are counted in the daily volume, but since this is a BSC token, you will receive x2. That is, if you buy-sell 1000$ = you already received +2000$ volume towards alpha points. But the average commission per account is about 2$ per day, it can be less
💭 And as I already mentioned, a new claiming system has been added, where even those with a relatively small number of points can claim. For example, yesterday's drop of $BULLA was for 50$-70$. Yesterday, there was an opportunity to claim the drop for everyone who has 247+ points, but this morning they allowed everyone with just 186 points to claim the remaining coins.

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Reasons
More free time
Less work distractions
Markets still open 24/7
So why do experienced traders often say:
> “Avoid buying on weekends”?
Let’s break it down 👇
---
⚠️ 1. Lower Liquidity
During weekends, big institutional players and pro traders are often off the desk.
✅ Weekdays → more volume, more stable prices
🚫 Weekends → thinner order books, less depth
Smaller trades can cause bigger price swings.
---
🎭 2. Whales Love Weekend Tricks
With fewer players in the market, whales can easily:
Pump prices to lure in retail traders
Dump coins suddenly for quick profit
Weekend traps are real.
---
🫣 3. Fake Breakouts Are Common
Charts might look like they’re breaking resistance…
…but come Monday, prices snap back as real volume returns.
Weekend “breakouts” often lack conviction.
---
😨 4. Emotional Trading Happens More
Bored on a Saturday night? You’re more likely to:
Enter random trades
Chase pumps
Ignore your strategy
Emotions and free time can be a dangerous combo!
---
💡 But… What About Scalping on Weekends?
Scalping = quick trades for small profits
On weekends:
✅ Possible to scalp small swings
✅ Lower volatility can be helpful for tight-range trading
But beware:
🚫 Spreads are often wider
🚫 Sudden spikes can wipe out stop-losses
🚫 Low volume can cause slippage
---
🎯 Beginner’s Takeaway:
> Avoid big buys on weekends.
Instead:
✅ Study charts
✅ Review your journal
✅ Plan your week ahead
If you must trade:
Keep positions small
Stick to tight stop-losses
Don’t chase pumps