Crypto stocks rebound after $6.1 billion swoon as bitcoin churns

Cryptocurrency-exposed stocks are recovering from a bloody four-day slide that had wiped out roughly $6.1 billion in value from a basket of companies tied to the fortunes of the volatile digital-asset world.

Marathon Digital Holdings Inc.’s 16% jump led the way on Friday, with the shares on pace to halt a nine day losing streak. The gains comes as Bitcoin climbs back from a slide of more than 15% on Thursday. Tesla Inc. Chief Executive Officer Elon Musk triggered the volatility late Wednesday by souring on the token’s energy demands. Microstrategy Inc. rose 4.5% on Friday, while as Mike Novogratz’s Galaxy Digital Holdings jumped 8.4% at 10:50 a.m. in New York.