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Crypto Friendly PayPal Has New CEO: CNBC

Mon, 08/14/2023 - 13:25
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Alex Dovbnya
Intuit's Alex Chriss will take reigns at global payments giant
Crypto Friendly PayPal Has New CEO: CNBC
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Intuit's Alex Chriss has been named the new chief executive officer of financial giant PayPal, according to a report by CNBC's David Faber.

Dan Schulman, president and CEO of PayPal, is planning to step down. He announced his intent to step down earlier this year. Schulman will remain a PayPal director until next May, according to Faber.

The hiring is the result of the selection process that began in February. It saw the board review nine candidates, some of whom were current CEOs from the fintech and the consumer services industry. They reduced that pool to four candidates and then they chose Chriss.

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It is worth noting that the new CEO oversaw the acquisition of Mailchimp in September 2021, which was a gargantuan $12 billion deal. His focus on small and medium-sized businesses will allow PayPal to fulfill its growth ambitions, according to board members, Faber adds. 

Schulman, who became the CEO of PayPal after the company's split from eBay back in 2015, presided over the company's crypto push. After initially allowing customers to buy, sell and hold a slew of cryptocurrencies in October 2020 and later making it possible to pay with crypto at millions of merchants worldwide, the company then rolled out its own dollar-pegged stablecoin earlier this month.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at