Decrypt is integrating perpetual futures trading powered by Phoenix, a fully onchain perpetuals exchange on Solana, in what the publication describes as the first media platform to offer perps trading directly alongside its journalism. Readers will be able to take long or short positions on crypto, stocks and commodities from the same place they follow the news, without switching apps, connecting external wallets or moving funds between platforms.
The publisher framed the move as a way to capture more of the economic activity its reporting generates, rather than treating media and financial products as separate businesses.
Why a publisher is adding trading
"Information influences decisions, shapes opinions and moves markets," said Ilan Hazan, co-founder and COO of Decrypt. He described a common pattern in which a reader discovers an opportunity through a publication, develops a view and then leaves to act on it elsewhere.
"The publisher monetizes the impression, while someone else monetizes the transaction. It means the publisher captures only a small part of the economic activity that its information and distribution generates," Hazan said, adding that Decrypt is "allowing readers to go from understanding what's happening in the markets to taking a position, without leaving Decrypt."
Phoenix supplies more than 100 markets
Kabir Sethi, Head of Business Development at Phoenix, said the partnership "closes the gap between reading the news and acting on it," noting that more than 100 Phoenix perpetuals markets are built directly into Decrypt.
Perpetual futures are contracts that let traders bet on an asset's price rising or falling without an expiry date, typically using leverage. Leverage magnifies both gains and losses, and positions can be liquidated quickly when markets move against them.
According to its website, Phoenix offers markets in crypto, U.S. stocks, gold and pre-IPO companies around the clock, with up to 40x leverage and low fees. The exchange is developed by Ellipsis Labs, a team that has built exclusively on Solana. Its CEO, Eugene Chen, has described perps as having "crazy product market fit," telling Blockworks' Lightspeed in a podcast interview earlier this year that perps exchanges are "very, very strong, high revenue businesses, probably some of the best in the industry."
Phoenix routes each trade at the moment it lands onchain, splitting it between its order book and market makers "based on what's going to give you the best price," Chen said.
One account, every market
Perps trading runs through the Decrypt Money Account, a single self-custodial account on Solana designed to work without seed phrases, gas fees or bridging. A single balance now funds prediction markets on Decrypt Predict, Jupiter-powered token swaps, Earn and perpetual futures.
Users can also send funds privately, after Decrypt added confidential transfers through Solana infrastructure firm Helius. The publication cited examples including reading about a public company's earnings and taking a position on its stock at any hour, or following a breaking Bitcoin story and going long or short in the same moment.
The Information Exchange
Announced in September, The Information Exchange is Decrypt's stated vision for the next generation of financial media: a single destination bringing together news, intelligence, market data, probabilities and direct financial participation, with perps forming the latest building block in that infrastructure.
Risk note: Perpetual futures are leveraged products and carry a high risk of loss. Availability may vary by region.
