Stanley Abbott, VP of Strategic Alliances at Insider21, denied his company had acquired Rippln last week, contradicting claims made in an earlier invitation. Abbott requested the removal of an article discussing the purported acquisition, stating Insider21 is a holdings company and was not purchasing Rippln.

An invitation had circulated, suggesting Insider21 had "acquired" the company. The invitation appeared to give the impression an acquisition had already taken place.

Insider21 President Eric Tippett later explained the situation. He confirmed both parties had signed a Letter of Intent (LOI) for an acquisition.

Tippett stated the deal depended on attorney due diligence. Insider21 decided to withdraw from the acquisition after discovering Rippln faced a lawsuit.

The lawsuit involved a trademark infringement complaint filed by Ripple Labs against Rippln. Rippln later settled the dispute by changing its company name to "Vapt."

Tippett also clarified Insider21's business model. Insider21 is a holdings company that provides management, funding, and distribution channels to smaller firms for an equity position. Its brand, Bonamour, a lifestyle MLM brand, offers a compensation plan, but Insider21 itself does not.

Troy Dooly of MLM Helpdesk offered a different account of the events. Dooly claimed in a video that Terry Lacore rejected the acquisition proposal, not Insider21.

Rippln operates today under the name Vapt following its settlement with Ripple Labs.