Top-tier market makers have collapsed, and it's been two months,

why is there still no conclusion?

On one hand, the market makers are still continuously selling off to recover funds and saving themselves, delaying as long as they can;

on the other hand, there is still negotiation with the exchanges: how to fill the gap, how to compensate, all these are bargaining chips on the negotiation table.

Life is hanging by a thread, admitting it publicly is equivalent to suicide.

Time replaces space,

so don't ask, if you do, the answer is denial.