Squid Game Season 3’s Billionaire Villains ’Resemble Elon Musk’—Creator Drops Crypto-Tinged Teaser

Netflix's dystopian hit takes aim at tech oligarchs—and their cult-like following—in its third installment.

When survival games meet memecoin energy: Squid Game's creator just compared Season 3's antagonists to the world's richest Dogecoin cheerleader. Cue the laser-eyed Twitter avatars.

The series' signature critique of late-stage capitalism gets a 2025 upgrade: this time, the VIPs aren't just gambling with lives—they're probably rug-pulling retail investors between bloodsport wagers.

Fun fact: The original Squid Game token scam in 2021 did what most altcoins do—pumped 23,000% before crashing to zero. Art imitating life, or life imitating Ponzi schemes?

Squid Game’s VIPs Turn Hunters in Season 3

In the new episodes, the masked billionaires abandon their passive roles as spectators, donning pink soldier uniforms to actively hunt contestants with machine guns.

Hwang told TIME that the VIPs’ evolution reflects his frustration with how today’s wealthiest figures have stepped into the spotlight, flaunting control over society.

“In the past, those that really controlled the system were hidden behind the curtain,” he said.

“It’s no longer the case… They willingly take their masks off, almost as if to declare, ‘We’re the ones running everything.’”

The parallels with Musk are particularly striking in light of his soaring net worth, which currently stands at $409.8 billion — a sum surpassing the GDP of countries like Denmark and Malaysia.

Tesla and SpaceX, Musk’s companies, have yet to comment on Hwang’s remarks.

Can we just all agree who the real king of season three was?#SquidGame #SquidGame3 pic.twitter.com/ygedr2PvHp

Meanwhile, Musk’s public battles with former President TRUMP over a contentious $2.4 trillion spending bill, which he called a “disgusting abomination,” have kept him front and center in global headlines.

Amazon founder Jeff Bezos also drew attention with a reported $46 million wedding in Venice, complete with 90 private jets, coinciding with Squid Game’s release weekend.

Hwang said he was inspired by surging inequality, rising political polarization, and recent political turmoil in South Korea, where former President Yoon Suk-yeol declared martial law before leaving office.

Korea’s FSC Eyes Spot Crypto ETFs

As reported, South Korea’s Financial Services Commission (FSC) has presented a roadmap to the Presidential Committee on Policy Planning proposing the approval of spot crypto ETFs.

The MOVE came after President Lee Jae-myung’s campaign promise to modernize digital asset rules and boost opportunities for younger investors.

The plan outlines implementation measures for spot crypto ETFs and regulatory frameworks for won-based stablecoins in the second half of 2025.

Historically, the FSC blocked crypto ETFs over volatility and financial risk concerns, maintaining that cryptocurrencies were unsuitable as underlying assets.