The two co-founders of crypto investment platform Sensible, Jacob Frantz and Zachary Salmon, have now joined Coinbase as part of the cryptocurrency exchange’s latest “acqui-hire” announced Tuesday morning.

Frantz, a former product manager at Meta and Salmon, a former director of Engineering at Walmart, both ditched their cushy corporate gigs circa 2022 to launch a series of crypto projects. They eventually settled on the idea of a “high yield” crypto account platform, which caught the attention of Coinbase.

The duo named their venture “Sensible,” perhaps hinting at their desire for crypto to be considered a financial investment rather than “a lottery ticket,” a theme echoed in one of Sensible’s early taglines.

Sensible allowed users to deposit crypto and immediately start earning yield, “up to 8%” annually, according to the platform’s website. The project was backed by none other than Coinbase itself, via its subsidiary Coinbase Ventures. Crypto venture firm Dragonfly also participated in Sensible’s fundraising.

And now, the platform, which was already integrated with Coinbase via an API, will be shutting down, but Frantz and Salmon will continue working on DeFi innovation within Coinbase, this time as employees instead of scrappy startup founders.

“Zak and I started what became Sensible in 2022 over a shared belief that technology is at its best when it directly empowers individual people,” Frantz wrote on X. “We were excited by the potential we saw to do this in crypto and thought our backgrounds could help us build with a fresh lens.”

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