Decrypt is integrating perpetual futures trading into its platform, powered by Phoenix, a fully on-chain perpetuals exchange built on Solana, making it the first media platform to offer perps trading directly alongside its journalism.

Readers will be able to go long or short on crypto, U.S. stocks, gold, and pre-IPO companies around the clock, taking positions on the same stories they follow without switching apps, connecting external wallets, or moving funds between platforms. Perpetual futures join prediction markets, token swaps, and Earn as Decrypt assembles The Information Exchange, a single destination where news, data, and markets come together.

The question underscoring the launch: what happens when the place you read the news becomes the place you act on it? The news that moves markets and the tools to trade them have long lived in separate places. Decrypt is bringing them together.

"Information influences decisions, shapes opinions and moves markets," said Ilan Hazan, co-founder and COO of Decrypt. "A reader might discover an opportunity through a publication, develop a view and then leave to act on it somewhere else. 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."

Rather than treating media and financial products as separate businesses, Decrypt is bringing them together, he said. "We're allowing readers to go from understanding what's happening in the markets to taking a position, without leaving Decrypt."

"Partnering with Decrypt closes the gap between reading the news and acting on it," said Kabir Sethi, Head of Business Development at Phoenix. "With over 100 Phoenix perpetuals markets built directly into Decrypt, readers can take in a story, form a view, and trade it in the same place. We are excited to help play a part in transforming Decrypt into a true information exchange."

Perpetual futures, or perps, 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.

Phoenix offers markets in crypto, U.S. stocks, gold, and pre-IPO companies around the clock, with up to 40x leverage and low fees, according to its website. The exchange is developed by Ellipsis Labs, a team that has built exclusively on Solana and whose CEO, Eugene Chen, has described perps as having "crazy product market fit."

"These are very, very strong, high revenue businesses, probably some of the best in the industry," Chen said of perps exchanges in a podcast interview with Blockworks' Lightspeed earlier this year. Phoenix routes each trade at the moment it lands on-chain, splitting it between its order book and market makers "based on what's going to give you the best price," he explained. Chen's assessment underscores the stakes: perps are, by his account, among crypto's strongest revenue businesses—the very transaction flow that publishers like Decrypt have historically seen monetized elsewhere.

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. One balance now funds it all: prediction markets on Decrypt Predict, Jupiter-powered token swaps, Earn and, now, perpetual futures. Users can also send funds privately, after Decrypt added confidential transfers through Solana infrastructure firm Helius.

The integration enables scenarios such as 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 vision for the next generation of financial media: a single destination bringing together news, intelligence, market data, probabilities, and direct financial participation. Perpetual futures form the latest building block in that infrastructure. How the remaining pieces of that stack come together—and which regions gain access, since availability may vary—are details to watch as the platform takes shape.

News moves markets. Now readers can move with it.

Disclaimer: Perpetual futures are leveraged products and carry a high risk of loss. Availability may vary by region.