GoPlus has issued a warning about the increasing risk of de-pegging and insolvency for stablecoins similar to XUSD. The analysis highlights that yield-bearing stablecoins, which depend on high-return strategies such as lending and leverage, are particularly vulnerable due to their large exposure to external borrowing and high liquidity needs. Additionally, algorithmic and dual-token stablecoins lacking sufficient external collateral are at risk, as they rely on market mechanisms without fiat reserves for redemption. The report also points out that centralized governance, high concentration of holdings, and projects with opaque operations and insufficient audits further exacerbate these risks. The potential for governance delays, custodian bankruptcy, and significant market impact from a few large holders are cited as critical factors that could destabilize these stablecoins.