Good morning! This is Lisa Ryan, reporting from New York. In case you missed the memo yesterday, Aaron Weinman is heading back home to Australia. (We're very sad to see him go, but we wish him a happy reunion with his beloved Vegemite.) Some of my colleagues and I will be bringing you the newsletter from here on.

Here's what's in store for you today: We've got the SEC chair's comments on Kim Kardashian's crypto ad penalty, a look at a leaked script Wells Fargo wealth advisors are following, and a wake-up call about salary raises this year. But first, let's kick things off with the latest from the Credit Suisse turmoil.

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1. Credit Suisse is fighting speculation that it could be at risk of a Lehman Brothers-style collapse. Rampant inflation, soaring interest rates, signs of a global downturn, falling asset prices, and the UK currency crisis had already spooked investors.

Credit Suisse CEO Ulrich Körner's Friday comments that it was a "critical moment" for the bank (ahead of an overhaul plan to be announced on October 27) and to expect more market volatility added fuel to the flames.

A large Credit Suisse investor told a Fox reporter that the lender's credit-default swaps were trading as if a "Lehman moment was about to hit." In turn, senior bank execs rushed to reassure large clients, counterparties, and investors about their liquidity and capital position.

On Monday, Credit Suisse shares fell as much as 12% before ending the European trading day in the green. Elsewhere, as my colleagues at Markets Insider report, the spread on five-year credit-default swaps climbed as high as 350 basis points — suggesting investors see a far higher chance of the bank defaulting on its debts.

There's no reason yet to believe Credit Suisse is at risk of causing a repeat of the 2008 financial crisis. But investors are clearly rattled.

Read the full story here.

In other news:

2. Kim Kardashian violated a 1930s securities law in promoting crypto on her Instagram, SEC chair Gary Gensler said. The reality star agreed to pay the SEC $1.3 million for failing to disclose she was paid $250,000 to post about crypto on her Instagram. You can see the post in question here — and if you bought any of the EMAX crypto tokens when she promoted them, you'd have lost over 95% of your money now. 

3. These five fintechs are trying to get wealth managers into crypto. The crypto market has mostly been focused on retail and institutional investors, but companies like Bitwise Investments and Eaglebrook Advisors are hoping to help wealth managers get into the space.

4. Leaked documents reveal the script that Wells Fargo advisors are using to stop clients from jumping ship. The bank is moving tens of thousands of clients out of its private bank, and Wells Fargo is telling advisors what to say about the shakeup. We have the scoop here.

5. BlackRock has found a new CFO. Martin Small will replace Gary Shedlin as finance chief, and younger execs have been named as vice chairs, the Financial Times reports. 

6. Hoping for a big raise this year? Prepare for disappointment. Recent surveys show companies are only planning to raise salaries by 4% — despite 8.3% inflation. Here's the deal.

7. One of Goldman Sachs' top commodities traders is heading to Millennium Management. Bloomberg reports Anthony Dewell, who helped oversee Goldman's oil-trading business, had been seen as a likely candidate to run the bank's commodities business one day.

8. Today in airports close to Wall Street: Per the WSJ, there's a longstanding debate as to whether Newark Airport in New Jersey counts as a NYC airport or not. If you have some time to spare, do yourself a favor and read the history of the drama.

9. The most expensive home ever sold in Dubai? That'd be the Casa Del Sole, located on the man-made island shaped like a palm tree. It reportedly went for a cool $82 million. Take a look.

10. Hang, an NFT-based loyalty startup, just raised $16 million from investors like Paradigm, and NBA star Kevin Durant. Here is the 10-slide pitch deck it used to raise the funds.

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Curated by Lisa Ryan (tweet @lisarya) in New York. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London.