Decrypt Becomes First News Publisher to Offer Perps Trading, Powered by Solana's Phoenix

Detailed summary

The integration brings perpetual futures trading into Decrypt, so readers can trade crypto, stocks and commodities without leaving the news.

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.

Decrypt is integrating perpetual futures trading, powered by Phoenix, a fully onchain perpetuals exchange on Solana, making it 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 that moves them, without switching apps, connecting external wallets or moving funds between platforms.

"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, he said, Decrypt is bringing them together. "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…

Opening of the article, excerpted from Decrypt. To read the rest, open the article on the publisher's site.