Golden Finance reported that David Marcus, the former head of Meta (formerly Facebook)’s stablecoin project Diem, published an article revealing the inside story of the project’s failure. Marcus said the program was fully compliant with regulatory requirements and ready for a small rollout in 2021, but U.S. Treasury Secretary Yellen told Federal Reserve Chair Jerome Powell that approving the program would be "political suicide." The Fed then pressured the banks to end their relationships with the projects. Custodia Bank CEO Caitlin Long responded that her company had suffered similar suppression. According to previous news, a16z founder Marc Andreessen revealed in a podcast that more than 30 technology founders have experienced "outage" in the past four years. (DL News)