This info may be useful to someone while installing CocoaPods on brand new MacBook Pro. Mine is M3 pro chip. Please use SUDO depending on your local user's access level.

After following @VinothV's steps, CocoaPods installed with version 1.15.2.

But when I actually tried: [sudo] pod install

I ran into: no such file to load -- ffi_c (LoadError). After going through some of the SO posts and following the below steps, I am able to install the pods for my Xcode project.

Follow the below steps:

• [sudo] gem uninstall ffi
• [sudo] gem install ffi

Finally: verify that ffi gem should be of type arm64-darwin.

Use command: gem list ffi and you see the below output

*** LOCAL GEMS ***

ffi (1.17.0 arm64-darwin)

public_suffix (4.0.7)

That's all!! Now pod install worked.