Crypto
Crypto bro buys storied Lower Haight beer bar. Will launch ‘ToronadoCash’ coin
The Toronado Pub is a celebrated Haight Street destination for beer enthusiasts — winning the top spot as the best beer bar in the world according to 2024 Reader’s Choice rankings. It offers 50 draft taps, three cask hand-pulls, and a collection of over 90 canned and bottled beers.
“The seasoned patina in the interior is earned, with layers of Trappist ale signs, brewery stickers, vintage bottles, and more that has accumulated over the years — you can’t design this vibe; you can only nurture it over decades,” reads the property listing that went live in January, with an asking price of $1.75 million for the property and business.
But something smells off to fans of the bar, as Parrott also plans to “kickstart a token ecosystem” named ToronadoCash. In the VC chat group, he asks for investors to form a $250,000 “liquidity pool,” which he describes as “a rare insider opportunity for core team & friends.”
“I think it’s probably antithetic to the impression I had of the bar,” said a source with knowledge of the deal. “It’s emblematic of a larger problem in San Francisco: tech bros coming in and buying a 40-year-old institution and making a coin out of it and all that stuff.”
Two neighborhood residents who were mounting their own bid echoed that sentiment. Reacting to the news of the sale, Aaron, 41, and Cody, 37, who have lived nearby for about 10 years and describe themselves as “skate buds,” said the sale to a crypto investor who wants to launch some kind of coin feels like “bringing a Tesla to a hot rod meet.”
The two said they submitted an offer letter to buy the bar and signed a contract to be a potential buyer, but they weren’t able to come up with enough money in time.
“We wanted to keep the bar exactly how it was and have local people do food pop-ups and record swaps, DJ nights, to bring a younger crowd into the bar,” Cody said. “[This] is like filming a Black Sabbath concert with your cellphone; it’s just not it,” Aaron added. (Both declined to give their last names.)
Parrott said ToronadoCash is a play on words referencing a controversial cryptocurrency called Tornado Cash that aims to obscure transactions.
“We’re not going to be controversial like that, but since the bar is called Toronado, there is an opportunity,” Parrott told The Standard. “We’re going to explore that down the road and again — not changing anything about the bar.”
Parrott kept his plans for the bar close to the chest. But a recent post on his X account offers a glimpse of his feelings about the takeover of beloved institutions by private investors.
Many Americans hesitant to file taxes amid IRS workforce cuts, survey finds
Think fewer IRS agents means you won’t get audited? Experts say think again.
Scripps News
A York County man allegedly failed to report gains from selling cryptocurrency on his individual income tax returns, according to the United States Attorney’s Office for the Middle District of Pennsylvania.
Waylon Wilcox, 45, of Dillsburg has been charged with filing false individual income tax returns, a news release states.
Acting U.S. Attorney John C. Gurganus alleges that Wilcox engaged in a complex cryptocurrency scheme. He sold his shares for more than $7,402,935 in 2021 and $4,899,180 in 2022 and failed to report the gains from the sale on his individual income tax returns, the release states.
Wilcox underreported his income for both tax years and reduced what he owed, Gurganus alleges.
In tax year 2021, Wilcox underreported his income by approximately $8,511,238, which reduced the tax owed by about $2,180,453, the United States Attorney’s Office alleges.
In tax year 2022, Wilcox underreported his income by approximately $4,599,532, which reduced the tax owed by about $1,098,623, the United States Attorney’s Office alleges.
“IRS Criminal Investigation is committed to unraveling complex financial schemes involving virtual currencies and non-fungible token (NFT) transactions designed to conceal taxable income,” Philadelphia Field Office Special Agent in Charge Yury Kruty said in the news release. “In today’s economic environment, it’s more important than ever that the American people feel confident that everyone is playing by the rules and paying the taxes they owe.”
The Internal Revenue Service, Criminal Investigation, investigated the case, the release states. Assistant U.S. Attorney David C. Williams is the prosecutor.
Expanded XRP Functionality Enables Seamless, Scalable Transactions for Real-Time Financial Workflows
Dubai, United Arab Emirates–(Newsfile Corp. – April 1, 2025) – Atua AI (TUA), the decentralized AI productivity platform for Web3, has expanded its integration with the XRP Ledger to enhance financial automation and transactional efficiency. This update reinforces Atua AI’s mission to deliver fast, intelligent, and secure financial operations through the combined power of artificial intelligence and blockchain technology.
Smarter workflows across seamless multichain systems
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By deepening support for XRP’s fast, low-cost infrastructure, Atua AI enables more seamless financial workflows—including automated invoicing, payment triggers, and real-time asset transfers within its ecosystem. Users can now execute on-chain financial tasks more effectively, with XRP acting as a bridge between AI-driven decision-making and decentralized value exchange.
The enhanced XRP functionality also improves the speed and accuracy of financial modeling tools across Atua AI modules like Writer and Chat, while integrating with Classifier to validate transactions against compliance and security parameters. These developments allow businesses to automate complex payment logic, predict financial patterns, and streamline on-chain accounting tasks without leaving the Atua AI interface.
This milestone reinforces Atua AI’s commitment to interoperable, enterprise-ready AI systems. By leveraging XRP’s proven ledger for real-time financial automation, Atua AI delivers a powerful solution for enterprises and users seeking efficiency, speed, and scalability in Web3 finance.
About Atua AI
Atua AI offers AI-powered productivity and creativity tools in the Web3 space. Its features include Chat, Writer, Imagine, Voiceover, and Classifier—all designed to empower users with intelligent, decentralized solutions for content creation, coding, analysis, and more.
Media Contact
Dorothy Marley
KaJ Labs
+1 707-622-6168
media@kajlabs.com
Social Media
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246874
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