Lihong Wang details his progression from internships at Jane Street and Akuna Capital to his former full time role at IMC Trading, with plans to innovate in DeFi through his startup Freeport backed by Y Combinator.
Lihong is a Duke University graduate with a background in mathematics and statistics. Lihong progressed from analyzing volatility decay at Jane Street to managing semi-systematic options books at IMC Trading. Lihong developed Freeport to simplify DeFi investing for self-custody users.
In this episode, Lihong Wang discusses:
◽️ Overcoming quant entry challenges shaped his career
◽️ Mastering trading styles enhanced market adaptability
◽️ Transitioning to entrepreneurship drove Freeport’s creation
◽️ AI’s role boosted trading research efficiency
◽️ Staking yields highlight DeFi’s potential for accessibility
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⏱ Timestamps
00:00 Intro
00:32 Quant interest: Math roots to Duke exposure
02:04 GameStop experience: Early retail trading
03:36 Market efficiency: Retail vs. quant perspectives
07:38 Quant compensation: Options and AI trends
09:08 Retail investing: Long-term vs. day trading
11:30 Jane Street culture: Secrecy and operations
13:00 IMC vs. Jane Street: Work dynamics
14:13 AI’s trading impact: Automation and signals
15:21 Leaving quant: Seeking fulfillment
17:51 Freeport concept: DeFi simplification
21:16 Startup timing: Co-founder alignment
24:44 Staking mechanics: Proof-of-stake details
27:54 Ethereum staking: Pool risks and rewards
30:01 Staking incentives: Network validation
31:50 Lending vs. staking: Platform differences
33:00 Centralized cuts: Coinbase’s approach
36:17 YC backing: Trust-building in DeFi
39:00 Team strength: Finance and tech synergy
40:38 Regulatory window: Startup opportunity
42:25 Early users: Test phase progress
43:55 Crypto thesis: Long-term potential
46:44 Blockchain rails: Future finance
48:17 Investment advice: Top tokens
49:19 Target users: Retail and institutions
50:44 Safety measures: Protocol due diligence
53:48 Crypto bans: Technological resilience
55:14 Growth challenge: Product completion
57:29 Competitive edge: User retention
59:26 Learning crypto: Exchange resources
1:01:28 Portfolio strategy: Big vs. small tokens
1:02:15 Untapped topic: DeFi trading edges
1:04:12 Liquidity provision: Retail vaults
1:05:15 Legacy goal: Impactful innovation
1:06:38 Next steps: Launch and growth
1:07:39 Outro
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📌 Resources
Lihong Wang:
◽️ LinkedIn: https://www.linkedin.com/in/lihong062/
Harvey Bracken-Smith:
◽️ LinkedIn: linkedin.com/in/harveybracken-smith
◽️ Instagram: instagram.com/harveybsmith
◽️ X (Twitter): x.com/harveybsmith_
Personable Podcast:
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◽️ Apple Podcasts: podcasts.apple.com/us/podcast/personable/id1671640111
Additional:
◽️ The Draft (Sign up): thedraft.io
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Personable is a podcast dedicated to helping listeners become the best they can be by learning from the world’s best in their respective fields. This mission is inspired by my mother, Louise, who encouraged me to become the best version of myself before she passed away from cancer in 2023.
This content is for informational and entertainment purposes only and is not financial advice. Always consult a qualified financial advisor before making investment decisions. Investing involves risks, and past performance is not indicative of future results.

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