Gate News message, April 20 — Elon Musk has been summoned by French prosecutors to appear in Paris today for questioning regarding alleged misconduct on his social media platform X, including the spread of child sexual abuse material (CSAM) and deepfake content. Both Musk and former X CEO Linda

The ASTEROID memecoin soared from a $50,000 to $170 million market cap after Elon Musk engaged with a project linked to a deceased teen's character. However, it remains an unlisted, high-risk speculative asset.

ASTEROID, a memecoin inspired by a deceased girl's plush toy design, skyrocketed over 68,000% in a week after Elon Musk's replies on social media, despite having no official ties to SpaceX. Early traders saw significant profits, but the coin's future relies on narrative rather than formal endorsement.

X's new Cashtags feature, launched on April 15, generated $1 billion in trading volume in two days, allowing users to access trading platforms and view price charts. Currently available only on iPhone in the U.S. and Canada, it complements the forthcoming X Money payment system, part of Elon Musk's vision for an "everything app."

Elon Musk clarified that SpaceX and Tesla are important customers of TSMC, not competitors, citing the need for TSMC to expand capacity with the "Terafab" project amid rising semiconductor demand. TSMC recognizes both Intel and Tesla as both customers and competitors.

Elon Musk's online activity revived interest in a cryptocurrency token known as "Asteroid crypto," causing increased trading and volatility on decentralized exchanges. Market reactions were driven by social media references, illustrating the token's sensitivity to influencer attention.

A trader bought 8.02 billion ASTEROID tokens for 9.1 ETH in September 2024, holding them for over 580 days. After Elon Musk's mention, the token's market cap surpassed $20 million, increasing the trader's investment value to about $392,000.

Elon Musk's xAI will provide computing power to programming startup Cursor, utilizing thousands of GPUs to train its new code model. This shift enhances xAI’s role in computing services, potentially increasing revenue and addressing operational costs amid ongoing losses.

Senator Elizabeth Warren warned Elon Musk about risks tied to X Money's launch, focusing on consumer protection, national security, and financial stability, particularly with cryptocurrency features potentially increasing volatility and illicit finance.

Elon Musk's Terafab project seeks to revolutionize chip manufacturing with $20-25 billion investment, targeting 1 terawatt capacity by 2029. While stock prices surged, analysts raise concerns about its feasibility, estimating costs could reach $5-13 trillion.