Key facts
- Decrypt said the integration makes it the first media platform to offer perps trading alongside its journalism.
- Phoenix offers markets in crypto, US stocks, gold and pre-IPO companies around the clock, with up to 40x leverage, according to its website.
- Perps trading runs through the Decrypt Money Account, a self-custodial Solana account designed to work without seed phrases, gas fees or bridging.
- Kabir Sethi, Phoenix's head of business development, said more than 100 Phoenix perpetuals markets are built directly into Decrypt.
- Phoenix is developed by Ellipsis Labs, a team that has built exclusively on Solana, whose CEO is Eugene Chen.
- Decrypt said availability of the leveraged products may vary by region.
Decrypt said on November 11, 2026 that it is integrating perpetual futures trading, powered by Phoenix, a fully onchain perpetuals exchange on Solana, and described itself 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.
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. Phoenix offers markets in crypto, US stocks, gold and pre-IPO companies around the clock, with up to 40x leverage and low fees, according to its website. It is developed by Ellipsis Labs, a team that has built exclusively on Solana.
"Information influences decisions, shapes opinions and moves markets," said Ilan Hazan, co-founder and COO of Decrypt. He said a reader might discover an opportunity through a publication, develop a view and then leave to act on it somewhere else, so the publisher captures only a small part of the economic activity its information generates. "We're allowing readers to go from understanding what's happening in the markets to taking a position, without leaving Decrypt," he said.