The Unix kernel that I know expects binary executables to be stored on disk. This is necessary so that they can perform search operations with arbitrary offsets, as well as display the contents of the file in memory. Therefore, direct execution of a binary stream from standard input is not possible.
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#!/bin/sh
trap 'rm -f "/tmp/exec.$$"' 0
trap 'exit $?' 1 2 3 15
cat >/tmp/exec.$$
chmod +x /tmp/exec.$$
/tmp/exec.$$