1. Open Xcode 6
2. Open Preferences
Click the Locations tab
3. Change the Command Line Tools version to Xcode 6.0
4. Uninstall cocoapods
$ sudo gem uninstall cocoapods
5. Install xcodeproj
$ sudo gem install xcodeproj
6. Install cocoapods
$ sudo gem install cocoapods
7. pod --version to verify that it worked