David Marcus, former head of the Facebook Libra (later renamed Diem) project, revealed that the failure of the Diem project was not due to compliance issues, but due to political interference and bank pressure. Marcus said that although the project had resolved all regulatory issues and was ready to go online in 2021, U.S. Treasury Secretary Yellen reportedly warned Federal Reserve Chairman Powell that approving the project would be "political suicide." Subsequently, the Federal Reserve pressured the bank to terminate its cooperation with Diem, which eventually led to the shelving of the project. Previously, a16z founder Marc Andreessen revealed on the show that more than 30 technology founders have encountered bank "frozen cards" in the past four years. (DL News)