• A big deal, involving a supposed $375-million cryptocurrency token offering, is not going as planned, people familiar with the situation tell Business Insider.
  • A foreign group is trying to buy the famed Plaza Hotel from the Sahara Group.

A reported deal to buy New York’s Plaza Hotel is not going as planned, people familiar with the situation tell Business Insider.

CNBC reported in March that Chimera, a foreign entity, was considering running a $375 million-plus ICO, a cryptocurrency twist on the initial public offering process, to help purchase the famed Plaza from the Sahara Group, a firm based in India.

It is a project that “Shark Tank” investor Kevin O’Leary alluded to during an appearance on CNBC.

“There’s a big deal coming in New York in the next three weeks,” O’Leary said, referring to a “very prestigious hotel.”

“It’s a $400 million coin issuance for a real asset you’ve heard of,” he…