David Marcus, former head of Diem, a stablecoin project under Meta (formerly Facebook), revealed the insider information of the project's failure in a post. Marcus stated that the project fully complies with regulatory requirements and is ready for a small-scale launch in 2021, but US Treasury Secretary Yellen told Federal Reserve Chair Powell that approving the project would be a 'political suicide'. Subsequently, the Federal Reserve exerted pressure on banks to terminate their partnership with the project. Caitlin Long, CEO of CustodiaBank, responded to this by stating that his company has faced similar suppression. Previously, a16z founder Marc Andreessen revealed on a podcast program that over 30 tech founders have experienced "disconnections" in the past four years @tfisabilillah