Hi! It's Dan DeFrancesco checking in from NYC.

Today we've got stories on another casualty in crypto, Credit Suisse heads to the Middle East for some help, and the new chatbot everyone is freaking out about. 

But first, let's take a trip to the suburbs. 

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1. The sure thing that's no longer a sure thing.

Home is where the heart is, but it might not be where the returns are anymore.

For the past three years, investing in single-family rentals was the gift that kept on giving. Even as housing prices skyrocketed, companies managing so-called SFRs were happy to outbid everyone else to add to their inventory. 

The rationale is simple: There's no shortage of people who want to move to the suburbs but can't afford to outright buy a house. 

But the shine is starting to come off what is considered one of the safest, and smartest, bets in real estate. 

The two largest single-family rental REITs — Invitation Homes and American Homes for Rent — have recently seen their ratings downgraded by Wall Street analysts, Insider's Alex Nicoll reports.

For SFRs, it's a bit of a gut punch, as these investments are supposed to still be good bets during times of turmoil, Alex told me.

America has a housing shortage, particularly among millennials with young families looking to move from the city into the suburbs (geez, this one hits particularly close to home). So even when the times get tough, SFRs should still be a bright spot. 

The fact there is some cause for concern over SFRs show how seemingly no one is safe in this market, as Alex put it to me. 

Rising interest rates are a key factor, but it's not the only issue facing these players. As Alex details in his story, there are a number of elements making SFRs lives difficult, from higher taxes to increased competition. 

Click here to read more about why some are souring on the business of single-family rentals.

In other news:

2. Circle punts on SPAC plans. The stablecoin issuer scrapped its plans to go public at a $9 billion valuation via the Concord Acquisition Corp. SPAC. Here's more on why the deal fell apart, and what's next for Circle. 

3. Credit Suisse's investment bank taps Saudi Arabia for funding. CS First Boston, the new investment-banking arm of Credit Suisse, are close to nabbing an investment from Saudi Arabian crown prince Mohammed bin Salman, The Wall Street Journal reports. More on the potential deal, which also might have participation from a former Wall Street CEO. 

4. The crypto exchange run by the Winklevoss twins is owed a lot of money thanks to the FTX blowup. Genesis, a crypto trading firm in crisis following the collapse of FTX, owes Gemini $900 million. More on that here. 

5. If you want to leave Wall Street but don't know where to start, read this. Alessia Scauzillo worked at PwC and RBC before walking away from a six-figure job to get into the fitness industry. Here's tips on how to make a career change. 

6. From investment banking to HR (but in a good way). Sara Wechter built a career at Citi working with high-profile executives like Jane Fraser and Michael Corbat before taking over the bank's human resources division, Bloomberg reports. More on Wechter here. 

7. Meet the anti-ESG politicians. Florida's Chief Financial Officer Jimmy Patronis announced plans for the state's treasury to divest $2 billion worth of assets managed by BlackRock by early next year. Patronis is one of 12 Republican officials we identified pushing back against ESG investing. 

8. It's time to kickstart your career as an influencer. Admit it, you've thought about trying to get paid sponsorships for your social media. Your friend Doug nabbed a deal, and his posts aren't as creative as yours . So check out these 9 templates used by actual influencers when reaching out to companies.

9. Here's everything you need to know about that creepy chatbot people are excited about. ChatGPT, a chatbot from OpenAI that can do everything from write code to come up recipes, has taken the internet by storm after an early demo of it drew over 1 million users in just five days. Here's more about ChatGPT and some examples of what it can do. 

10. Rolex is getting into the pre-owned game. The iconic watch brand has launched a program for certified pre-owned watches amid a rocky time for the company. Here's everything we know about it, and why it might help stem a drop in prices.

Keep updated with the latest business news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief. Listen here.

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