Binance has denied rumors that its CEO Changpeng “CZ” Zhao faces an Interpol Red Notice request to locate and arrest him. The rumor, which triggered a drop in the price of Binance's BNB token and the broader market, was magnified by crypto Twitter personality 'Cobie.'

Binance is already facing a civil enforcement action by the Commodities Futures Trading Commission for violating the Commodity Exchange Act and other regulations.

A Red Notice is a request to law enforcement worldwide to locate and arrest a person pending extradition or similar legal action.