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Decrypt Becomes First News Publisher to Offer Perps Trading, Powered by Solana’s Phoenix
Decrypt is adding perpetual futures trading to its news platform through Phoenix, a Solana-based exchange, allowing readers to trade while following market coverage. The company says this makes it the first media platform to offer perps alongside its journalism and aims to connect financial information directly with trading.
The service will provide access to more than 100 Phoenix markets, covering crypto, US stocks, gold and pre-IPO companies. Trades use Decrypt’s self-custodial Money Account, which also supports prediction markets, token swaps and other services; Phoenix offers up to 40x leverage, which can magnify losses as well as gains.
In short
- Decrypt is adding Phoenix perpetual futures trading alongside its news.
- More than 100 markets cover crypto, stocks, gold and pre-IPO firms.
- Trading offers up to 40x leverage, increasing both potential gains and losses.
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The case for
Offering trading alongside journalism could make market coverage more useful by letting readers act on information in one place, while broad access to crypto and other markets may appeal to users who value convenience and self-custody. The company could also see this as a way to build a sustainable media business and introduce readers to financial tools they already use elsewhere.
The case against
Combining reporting with leveraged trading may blur the boundary between journalism and financial services, potentially affecting readers’ trust in the coverage or encouraging decisions made in the heat of the moment. Up to 40x leverage can magnify losses, so critics could argue that placing these trades beside news creates avoidable risks, especially for readers who may underestimate them.
Explained simply
Perpetual futures, often called perps, are contracts that let people bet on how an asset’s price will move without setting a date to buy or sell the asset itself. They are commonly used in crypto markets and can involve leverage, which magnifies both gains and losses.
Decrypt is a news publisher focused on digital assets and the wider crypto industry. Phoenix is an exchange built on Solana, a blockchain network; its markets include crypto and other assets. A self-custodial account gives users control of their own digital assets, while also making them responsible for managing them.
The service links news coverage with financial trading, so readers can move from following a market to placing a trade through the same platform. Its significance depends on how readers use it and on the risks of leveraged trading.