Decrypt wants readers to move from reading about the market to trading it without leaving the page.
The crypto and markets publication is adding perpetual futures trading powered by Phoenix, a Solana-based exchange. Decrypt says it is the first media platform to let readers take long or short positions on news they have just read.
What Decrypt is actually launching
A perpetual future, or “perp,”, is a derivative contract that tracks an asset’s price but has no expiration date. Traders can bet that prices will rise (go long) or fall (go short), typically using leverage, and keep their positions open for as long as they want.
The integration gives Decrypt readers access to round-the-clock perps on crypto, US stocks, gold and pre-IPO companies. All positions draw on a single Decrypt Money Account balance.
That 24/7 feature matters more than it might seem. Traditional stock markets close in the evening and on weekends, but news continues to break. Perps on US equities let traders react when the bell isn’t ringing.
The announcement was made on November 11, 2026. That same day, Decrypt co-founder Farokh confirmed the integration on Decrypt’s X account.
Meet Phoenix, the engine under the hood
Phoenix is a decentralized exchange on Solana, operated by Ellipsis Labs. It uses an on-chain central limit order book, commonly abbreviated as CLOB.
A CLOB follows the traditional stock exchange model: buyers submit bids, sellers submit asks, and trades occur when the two match. When the process runs fully on-chain, order matching is recorded on the blockchain rather than on a company’s private servers.
The exchange accepts $USDC and native SOL as collateral, with profits and losses settled in $USDC.
Phoenix had been in private beta since December 2025. It now lists 106 perpetual futures markets, covering 55 cryptocurrencies and 46 stocks or ETFs, as well as other assets.
On the announcement date, Phoenix reported approximately $31.76 million in 24-hour trading volume. Open interest—the total value of positions that remain open—was around $16.51 million.
Before launching a rewards program in July 2026, the exchange had surpassed $1 billion in trading volume without incentives.
The Information Exchange
Perps are not Decrypt’s first step into markets. The platform already offers prediction markets, token swaps and an Earn product.
Decrypt has grouped these features under a broader banner called The Information Exchange. The aim is to bring news, data and markets together in one destination.
What the move means for traders, Phoenix and media
For traders, the appeal is speed and convenience: read a story about a stock, token or gold, then open a position without changing apps or transferring funds between venues.
For Phoenix, the integration offers a way to reach more users. A media site with an existing audience can direct new users to the exchange’s order books.
With daily volume of around $31.76 million and open interest near $16.51 million, Phoenix remains a relatively young venue.
When a publication earns money from trading activity, it is worth watching how that affects what gets covered and how prominently.
Source: cryptobriefing.com. Adapted by NBTC.
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