Episode 3 of Crypto Market Wizards, a new interview series focused on crypto traders in the trenches of the liquid markets (not VCs). Today we have Jae Chung from Manifold Trading talking about the state of the market and how he thinks the next bull market will play out. He also lays out his Web3 Consumer App thesis and how the next cycle has to be led by real products that real people use. Follow Jae: https://twitter.com/_jaechung Timestamps: 0:00 How Jae Got into Crypto 3:28 How Manifold Trading Makes Money 6:54 Pushing your Edge 8:36 Jae's Bullish Market Outlook 12:37 Why Jae's Bullish RLB & CANTO 16:08 Work/Life Balance 18:08 Web3 Consumer App Thesis (FriendTech, Blackbird) 20:50 Risk Management in the Liquid Markets 24:24 What will the Next Cycle look like? 28:10 Common Traits of Successful Traders 33:05 Biggest Misconceptions about Crypto 35:30 How Most L1's Lack Identity 41:08 ETHBTC & BTC ETF Thoughts 44:25 How to be a Successful Trader 49:20 Thoughts on Value Accrual & Memecoins 53:52 Trading Rules to Live By