You're right : `The CPU version is released as binary code under the MIT license`. That's quite an unusual choice, not even sure how MIT would apply to that...
You can release whatever you want under MIT :) It grants you the right to use the binary for commercial projects (or any type of projects you want), to modify the binary, distribute it yourself and more. You cannot hold Bellard/the license holder liable for anything related to it, and you must include the license and copyright if you distribute it.