According to Techub News, David Marcus, co-founder of Meta's blockchain payment solution Diem (formerly Libra), recently posted accusations against the Federal Reserve and the Treasury for sabotaging the project.
Marcus stated that by the spring of 2021, Diem had resolved all potential regulatory issues related to financial crimes, money laundering, consumer protection, and reserve management, and was ready to launch. However, at that time, Treasury Secretary Janet Yellen told Federal Reserve Chairman Powell that allowing the project to proceed was 'political suicide.' Shortly thereafter, the Federal Reserve organized a conference call with all participating banks, advising them not to engage with Diem. Marcus said, 'There is no legal or regulatory angle from the government or regulators to kill this project. This is 100% a political assassination, carried out through intimidation of captured banking institutions.'
