This is just me theorizing from what I've heard/experienced with the firm:
I know AC offers have started to be sent out, including for direct TC applications.
I'm pretty sure they do it in batches because each AC only has a maximum of 12 participants. I'm guessing they probably rank the batches so that those they want to interview most get sent an invite first.
So, I think they only send out invitations for 3-4 ACs at a time, send out their post-interview offers/rejections to those candidates, and then send out the next batch of AC invitations. I'm guessing they do this until all of their VS and direct TC positions are full, and then send out rejections to anyone who were being considered for an AC in later batches
So if you're still "on hold", that might mean that you are in a future batch. Basically, no news is good news at this point