The Plaza Hotel in New York City, which President Donald Trump once called "the ultimate trophy in the world."The Plaza New York

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 added.

Still, it's unclear if the ICO will ever happen.

Sources told Business Insider that the deal would first involve a private transaction in which Chimera would raise more than $675 million to purchase the Plaza. A public token offering to pay off the debt from the original transaction was considered as a next step. The sources doubt whether either will come to fruition.

The deal is not progressing, according to multiple people, and it is failing to attract enough investors. The people, who were potential investors, have walked away from the deal.

Multiple sources told Business Insider that O'Leary is not directly involved in the deal, at the moment.

The Plaza has been up for sale since 2017, according to The Wall Street Journal. The property, which can be valued above $500 million, has attracted dozens of potential buyers, The Journal reported.

Once declaring it "the ultimate trophy in the world," President Donald Trump bought the NYC landmark in 1988, declared bankruptcy on the property in 1992, and sold it in 1995.

After it changed hands a few more times, Sahara bought a controlling stake in the Plaza for $570 million in 2012.

Business Insider reached out to O'Leary and Chimera lead investor Shahal Khan and will update this post if they respond. The Sahara Group didn't respond to a request for comment.

You need an incredible amount of money to live in The Peak.Harrison Jacobs/Business Insider

Every city has that neighborhood — an address that signifies wealth. New York City has Fifth Avenue, London has Kensington, and Miami has South Beach.

Hong Kong has The Peak — short for Victoria Peak — a neighborhood that has been synonymous with wealth, luxury, and exclusivity since the colonial era.

As the least affordable city in the world for eight years running, Hong Kong takes the cake when it comes to luxury real estate.

At various times over the past decade, Pollock's Path, Barker Road, and Severn Road — all streets on The Peak — have claimed the title of the world's most expensive street.

The neighborhood is home to a mix of bankers, expatriates, business magnates, celebrities, and, more recently, Chinese millionaires and billionaires looking for a place to invest or vacation away from pollution in cities on the mainland.

It's the kind of neighborhood that consistently breaks records for the most expensive real estate in the world. In 2015, it was rumored that Jack Ma, the Chinese billionaire who founded Alibaba, purchased a $191 million mansion there, but it has never been confirmed.

Last month, an unidentified buyer broke the record for the most expensive real estate in Asia, purchasing a 9,217-square-foot villa on The Peak for about $180 million, making it about $19,400 per square foot.

I recently visited the ritzy neighborhood to see why it continues to house some of the most coveted addresses in the world. It did not disappoint.

Length: 1,005 ft

Commissioned: 1991

Carries: 41-53 aircraft. 14 Su-33 fighters, 28 MiG-29K fighters (upcoming), 15 Ka-27 helicopters.

Crew: 1,960 sailors, 626 airmen, 46 command.

Propulsion System: Steam turbines. Eight boilers, two turbines, nine turbogenerators, six diesel generators, four propellers.

History: While the full name — Admiral of the Fleet of the Soviet Union Kuznetsov — is a bit of a mouthful,this ship is one of the largest carriers and the flagship of the Russian Navy.

Originally launched in 1985, the Kuznetsov wasn't fully operational until 1995 after the fall of the Soviet Union. Her sister ship, the Varyag, was never commissioned and sold to China as a hulk by Ukraine.

Kuztnetsov became the first Russian aircraft carrier to ever see combat when it was sent to Syria's Mediterranean coast in 2016 to assist in Russian combat operations. Its aircraft flew 420 missions and hit 1,252 targets.

Kuznetsov did, however, show its age by losing two aircraft due to technical malfunctions of the carriers arresting gear. The first incident was in November 2016 when a MiG-29K ran out of fuel while waiting for repairs to the arresting wire, and the second was just a month later, when an Su-33 crashed because the arresting wire failed to hold the aircraft.

Following these mishaps, Kuznetsov's air wing was forced to operate from air bases in Syria until the issues were resolved.

John D. Rockefeller's descendants' firm, Venrock, is getting into bitcoin.Wikimedia

Major cryptocurrencies were trading in the green Sunday morning following reports that two traditional Wall Street firms are eyeing the market for digital currencies.

Bitcoin, the largest cryptocurrency by market capitalization, was trading up 2.1% at $7,047 a coin, according to Markets Insider data.

It's been a rough start to the year for bitcoin, which saw its price soar by more than 1,300% in 2017, but has not fared as well in 2018.

Reports of a crackdown on cryptocurrency advertisements by tech giants such as Google and Facebook as well as regulatory uncertainty in Asia and the US have weighed on the coin for much of March and April. The coin is down 50% since the beginning of the year.

But investors appeared to be more bullish during Sunday's trade following reports that two Wall Street icons were looking to get into the market for cryptos.

More notably, the investment fund founded by billionaire George Soros is preparing to dive into cryptocurrency trading, even though Soros himself previously described them as a "bubble."

Adam Fisher, who oversees global macroeconomic investing for Soros Fund Management, has gained internal approval to invest in and trade cryptocurrencies, according to a Bloomberg News report.

Also, Venrock — a venture capital firm founded by descendants of famed capitalist John D. Rockefeller — announced it was partnering with a cryptocurrency investment firm based in Brooklyn. Fortune first reported on the partnership.

Anthony Pompliano, whose crypto-focused VC firm Full Tilt was recently acquired by a traditional hedge fund Morgan Creek, told Business Insider these reports are "encouraging" for the nascent bitcoin market.

"It is encouraging to see institutions with the historical track record of Soros and Rockefeller beginning to gain exposure to blockchain and cryptocurrencies," he said.

"I anticipate more and more institutional capital will begin to pour in, hopefully leading to a more mature and sophisticated market."

April 5, 2018

I have a Cray-2 showing up at our Carriage House in the next few weeks. It’ll be a permanent fixture there and, while it’s not functional, it’ll be fun to have around.

I’m now on a quest to find a Thinking Machines CM-1 or CM-2. Every supercomputer needs a friend after all.

If you know where I can get one (I’m happy to buy it), or display something publicly that is hidden away in storage somewhere, drop me a line.

In the meantime, if you want to learn more about the CM-1 or CM-2, the following promotional video is a nifty walk through memory (see what I did there?) lane. Yup – enjoy the parallel universe (sorry – I couldn’t help myself.)

Also published on Medium.