Techub News: David Marcus, the former head of Meta's (formerly Facebook) stablecoin project Diem, revealed the insider story of the project's failure in a post on X. Marcus stated that by 2021, the project was fully compliant with regulatory requirements and ready for a small-scale launch, but U.S. Treasury Secretary Yellen told Federal Reserve Chairman Powell that approving the project would be 'political suicide.' Subsequently, the Federal Reserve pressured banks to terminate their partnerships with the project.