My guess is that binance is technically insolvent (negative net assets) but not yet factually insolvent (still able to meet day-to-day liquidity needs), and wit

My guess is that binance is technically insolvent (negative net assets) but not yet factually insolvent (still able to meet day-to-day liquidity needs), and without a major turn in the crypto market, has no chance of rectifying their technical insolvency, and are playing for time with regards to their factual insolvency.