FinancialCentre broker explains the – CYCE Project Got a New Investment


City: London, UK

Around the globe, it has been seen that cryptocurrency gained an increase in investments and has continued to grow through the years. In the years to come, this growth will continue to increase manifold. Many countries have taken part in this growth. Some countries have just started to take part in it. Some have been in this sport for years now. Some countries have small shares, while some have large shares. A country that has taken a large share of this growth in Turkey. In Turkey, however, regarding this issue, no clear or specific regulations have been put into action. FinancialCentre expert Sofia Castle, reports and discusses the recent investment for the CYCE Project in Turkey.

CYCE Project Officials at the Turkish Assembly

At the Turkish Assembly that took place recently, many important figures of the cryptocurrency sector came. The participation of all these leading figures at the Turkish Assembly has drawn the community’s attention. CYCE project officials also participated in this negotiation. The crypto community has reacted to the participation of these officials of the CYCE project in the meeting. CYCE project works to counter the effects of global warming. Many projects in the world are also working to counter the effects of global warming. One of the hot topics of this century is global warming and its consequences that can still be seen today and will continue to worsen in the upcoming years if nothing is done to reduce it. The project invests in electric vehicle charging stations and the promotion of renewable energy sources.

Agreement with Bayburt Governorate

The company’s Twitter account has released a statement regarding the investment that they have received. According to this statement, Bayburt Governorate has signed some agreements with CYCE. The agreements included land allocation where the reactor production facility would be made. This reactor production facility is made for charging stations. The investment involved in this agreement is worth USD 20M. This USD 20M is worth 300M Turkish lira when converted to Turkish currency.

The Foundation of CYCE Project

CYCE is a project built on the foundation of reducing carbon emissions, ultimately reducing the threat of global warming. Carbon emissions are one of the major sources which have contributed to the increase in global warming. We are seeing extremely drastic catastrophes, changes in climate, glaciers melting, floods, drought, famines, and wildfires in different parts of the world. All these things are connected with global warming one way or another. A project like CYCE is working to stop global warming by reducing carbon emissions. 

At the helm of the Central Bank of the Republic of Turkey, the investment is allegedly received by the project. The investment has taken place very recently. It has not been confirmed yet whether the investment has truly been received at the helm of the Central Bank of the Republic of Turkey, but speculations are that the investment may have been received there. No statement from the CYCE project officials has been released yet, regarding the location of this transaction.

The team has expressed special thanks to the Chairman of the Board of Directors of GENAR Research, Ihsan Aktas, Cuneyt Epcim and Sahap Kavcioglu. GENAR Research is an organization working to provide expert and competent knowledge and consultancies to the people. From market research to political research and social research, GENAR Research has continued to produce and provide information in many sectors and fields.

Many users on Twitter had shared the news of this investment. Afterwards, the Governor of Bayburt personally confirmed the news about the investment. This investment is the beginning of many more to come. A new facility is being set to establish in Bayburt under the effect of this investment. This has been announced by the company recently. The construction of this facility is just a start. The facility is made for charging stations. If the facility works well, many more such facilities will be made along with an increase in investments.

Support Package

After these developments, the President of Turkey, Recep Tayyip Erdogan, has also announced a support package following the announcements of this investment. The support package is worth USD 20M, equal to 300M Turkish lira. According to a statement, this support package has been granted to the project for the formation of super-fast charging stations. Regarding the same issue, another teleconference meeting has also been held between Elon Musk and the President of Turkey recently. The meeting took place approximately one month ago. 

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your research before making any investment based on your circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information you find in this article and wish to rely upon, whether to make an investment decision or otherwise.

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