(Bloomberg) -- The criminal trial of former Celsius Network Ltd. Chief Executive Officer Alex Mashinsky has been scheduled for Sept. 17, 2024. 

Mashinsky was charged in July with securities fraud, commodities fraud, wire fraud and conspiracy to manipulate the value of the Celsius token. His firm collapsed into bankruptcy last year with more than $1 billion in debt.

At a hearing before US District Judge John Koeltl Tuesday, lawyers for Mashinsky hinted at their defense strategy, saying they were considering looking at whether a cryptocurrency is a security. 

“The law about what is a security is fluid,” said defense attorney Robert Frenchman.

Last month, former top Celsius Network executive Roni Cohen-Pavon pleaded guilty to fraud charges and agreed to cooperate with prosecutors in their case against Mashinsky.

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