The former head of the cryptocurrency project Diem, which was developed by the organization recognized as extremist in Russia, Meta (formerly Facebook), named the real reason for the project's demise. According to David Marcus, the initiative was 'suffocated' by American regulators.

As part of Diem, which was launched in June 2019, the company aimed to create a decentralized payment network with an integrated stablecoin backed by the US dollar. However, shortly after the launch, the team faced regulatory pressure.

After numerous attempts to align Diem with regulatory requirements, Federal Reserve Chairman Jerome Powell was willing to approve the project with restrictions, but Treasury Secretary Janet Yellen called it 'political suicide.' Pressure on banks cooperating with the project became the final blow. Meta abandoned Diem in 2022. The project's assets were sold to Silvergate Capital.