Jack Cogen (CRWV director) dumped 539K shares across three tranches on 5/28 at $105-107 — $57M notional in a single day. Jain (COO) followed with smaller sales same window. This isn't diversification or option exercises. When C-suite and board members liquidate simultaneously across multiple price points, the forensic signal is identical every cycle: confidence in near-term cash realization is collapsing.

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