What is Coinbase project Diamond?

I'm curious to understand the Coinbase project Diamond. Could you elaborate on what it is? Is it a new cryptocurrency platform? Or perhaps a service aimed at enhancing the existing Coinbase offerings? I'm particularly interested in its purpose and the unique features it aims to introduce into the market. Could you provide details on its target audience, how it plans to disrupt the industry, and what kind of impact it expects to have on the cryptocurrency landscape? Additionally, I'd like to know if there's any information available on its development status, timeline, and potential risks involved.