"Earlier this week, a decade-and-change and one PayPal acquisition after launch, Venmo finally announced a big redesign of the app that seemingly takes those concerns to heart. New users to the platform will now get prompted to decide whether they’d like to share their financial decisions with the world as part of the onboarding process. Users will also be able to select whether they want the business they’re choosing to share to be seen by their friends list or the whole wide world."
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It was f***ing wild to me that the default setting is that your payments are visible to everyone. WHO at venmo thought that was a good default?
People still make that same decision today, as Spark works the same. Transactions are public unless the wallet devs change this setting (discussion). Wallet of Satoshi and Tether wallet devs did not, so it's all public.
New users only. Existing accounts keep their old public defaults unless they manually change the setting.