A Startup Raises $15M, Led by Paradigm, Aiming to Rival HyperLiquid

Decentralized trading venue GTE has raised $15 million in a Series A round led by Paradigm, according to an announcement made on X.

GTE describes itself as the “world’s fastest decentralized exchange,” a label often attributed to HyperLiquid. The derivatives exchange is one of this crypto cycle’s success stories, having racked up more than $1 trillion in cumulative trading volume in 2025, DefiLlama data shows.

While GTE plans to rival HyperLiquid in terms of speed, it also wants to target Uniswap and Pancake Swap to make spot trades cheaper and more efficient.

The GTE website shows that it will use a central limit order book to match buyers and sellers as opposed to Uniswap’s model, which involves liquidity pools and an automated market maker engine.

GTE co-founder Enzo Coglitore said that he expects latency to rival that of Binance and Coinbase, in an interview with The Block.

Trading firms have long since grappled with latency issues in crypto markets. Even FTX, once billed as the exchange built by traders for traders, had problems with high latency and API bugs.

The difference between GTE and these centralized venues is that GTE will be entirely non-custodial. This means that traders can trade assets without handing over custody to the exchange itself, avoiding the risk of another exchange implosion like FTX.