# USDe: how AI models rank it, November 2026

Gane Index, November 2026 Edition. Named in 5 judge labels across 1 category by 5 of 14 models. Page: https://www.gane.ai/index/finance/vendors/usde

## Standing by category

| Category | Share | Rank | Negative rate | Labels |
|---|---|---|---|---|
| [Stablecoin platforms](https://www.gane.ai/index/finance/treasury/stablecoin-platforms/index.md) | 0% | 141 | 60% | 5 |

## What the models said for it

- "Earning yield on stablecoins | USDe (sUSDe)" (Kimi K2, Stablecoin platforms)

## And against it

- "USDe is not a conventional fiat-backed stablecoin; its design involves derivatives and carries market, counterparty, liquidation, and funding risks." (Perplexity Sonar, Stablecoin platforms)
- "it is unproven at scale... it could depeg rapidly" (GLM 4.7 FlashX, Stablecoin platforms)
- "It offers high yields (via "sUSDe") but carries more risk due to its non-fiat-backed model." (Grok 4.20, Stablecoin platforms)

## By model

| Model | First choice | Alternative | Mention | Warning | Labels |
|---|---|---|---|---|---|
| Claude Haiku 4.5 | 0 | 0 | 0 | 0 | 0 |
| GPT-5.4 mini | 0 | 0 | 0 | 0 | 0 |
| Gemini 3.5 Flash | 0 | 0 | 0 | 0 | 0 |
| Perplexity Sonar | 0 | 0 | 0 | 1 | 1 |
| Grok 4.20 | 0 | 0 | 0 | 1 | 1 |
| Mistral Small | 0 | 0 | 0 | 0 | 0 |
| DeepSeek V4 Flash | 0 | 0 | 0 | 0 | 0 |
| Llama 4 Maverick | 0 | 0 | 0 | 0 | 0 |
| Qwen 3.7 Flash | 0 | 0 | 0 | 0 | 0 |
| Kimi K2 | 0 | 1 | 0 | 0 | 1 |
| GLM 4.7 FlashX | 0 | 0 | 0 | 1 | 1 |
| MiniMax M2.5 | 0 | 0 | 0 | 0 | 0 |
| GPT-6 Luna | 0 | 0 | 0 | 0 | 0 |
| Muse Glimmer 30B | 0 | 0 | 1 | 0 | 1 |

## Sources returned with these answers

The sites and pages cited by the answers that named USDe, from 11 of the 12 answers that named it (only the models that return a source list).

### Domains cited

- stripe.com: 6
- coingecko.com: 5
- federalreserve.gov: 5
- upshift.finance: 5
- li.fi: 4
- assets.coingecko.com: 3
- coinmarketcap.com: 3
- congress.gov: 3
- ecb.europa.eu: 3
- esrb.europa.eu: 3

### Pages cited

- https://li.fi/knowledge-hub/algorithmic-stablecoins-how-they-work-the-risks-and-where-to-find-them: 4
- https://assets.coingecko.com/reports/2024/CoinGecko-State-of-Stablecoins-2024.pdf: 3
- https://coingecko.com/research/publications/state-of-stablecoins-2024: 3
- https://coinmarketcap.com/view/stablecoin: 3
- https://ecb.europa.eu/press/financial-stability-publications/fsr/focus/2025/html/ecb.fsrbox202511_05~63636227b4.en.html: 3
- https://esrb.europa.eu/pub/pdf/reports/esrb.report202510_cryptoassets.en.pdf: 3
- https://federalreserve.gov/econres/notes/feds-notes/in-the-shadow-of-bank-run-lessons-from-the-silicon-valley-bank-failure-and-its-impact-on-stablecoins-20251217.html: 3
- https://ocbc.com/iwov-resources/sg/ocbc/gbc/pdf/fx%20outlook/fx%20ideas/stablecoins%20-%20unpacking%20the%20future%20of%20digital%20currency.pdf: 3

## Record

- Method: https://www.gane.ai/index/finance/methodology
- License: CC BY 4.0. Cite as Gane Index, November 2026 Edition, www.gane.ai/index/finance.