Crypto Flipsider News – MetaMask Integrate PayPal; Gemini Data Leak; Binance Inflow Return; Fed Rate Hike; $9B FTX Loss

Read in the Digest:

  • ConsenSys partners with PayPal for ETH transactions on MetaMask wallet
  • Gemini users targeted by phishing attacks after 5.7 million emails leaked
  • Inflows return to Binance after recording $3.7 billion net outflows in 7 days
  • Fed raises interest rate by 0.5 percent point to the highest point in 15 years
  • The realized loss of FTX collapse peaked at $9 billion, lower than expected

ConsenSys Partners with PayPal for ETH Transactions on MetaMask Wallet

MetaMask, the leading Web3 mobile wallet, has begun allowing users to purchase and transfer Ethereum (ETH) with PayPal after its parent company ConsenSys announced a partnership with the payment giant.

As per the announcement, some select U.S. MetaMask users can purchase Ethereum (ETH) at a 1% fee via the mobile app. ConsenSys aims to roll out the options to all U.S.-based users in the coming weeks.

ConsenSys product manager Lorenzo Santos explained that through the partnership, “PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem.”

However, the announcement did not specify when the PayPal feature will be available to users in other countries and if it will be rolled out on the web portal. The launch follows PayPal’s push to enable crypto transfers between its platform and several popular crypto exchanges in June.


  • Just a day before the release, ConsenSys unveiled its zero-knowledge Ethereum Virtual Machine (zkEVM) network on testnet.

Why You Should Care

Despite the crypto winter, ConsenSys continues exploring ways to bring more users into the Web3 ecosystem.

Digest breakers Coins

Gemini Users Targeted by Phishing Attacks After 5.7 Million Emails Leaked

Users of Gemini, a global crypto exchange, have become the target of phishing attacks after a data breach led to the emails of emails and phone numbers of 5.7 million users being stolen.

Confirming the incident, Gemini reported that the data breach was the “result of an incident at a third-party vendor.” However, Gemini did not state the name of the party responsible for the data breach.

According to Gemini, the leaked data did not include sensitive personal information such as names, addresses, and other Know Your Customer information. In addition, the hacker did not gain full phone numbers, as certain numeric digits were obfuscated. 

Although this information isn’t available to the hacker, Gemini has warned that users remain vigilant of phishing attacks. Gemini also confirmed that none of its systems were impacted by the data breach and all funds and customer accounts remain secure.


  • According to reports from affected customers, the email leak occurred much earlier than the crypto exchange announced.

Why You Should Care

Phishing, a type of scam that involves sending a fraudulent message designed to trick a person into revealing sensitive information, is becoming prevalent in crypto.

Digest breakers NFT

Inflows Return to Binance After Recording $3.7 Billion Net Outflows in 7 Days

Binance, the world’s largest crypto exchange, is experiencing a degree of stability after crypto analytics firm Nansen reported that exchange withdrawals had hit $1.9 billion in 24 hours and more than $3.7 billion in seven days.

The massive withdrawals from Binance resulted from the FUD — or fear, uncertainty, and doubt — spread within the crypto ecosystem about the exchange’s questionable reserves and the possibility of a bank run.

The exchange’s CEO Changpeng Zhao has said that “things seem to have stabilized.” The storm seems to have been weathered by Binance, with Nansen reporting that the exchange has seen net inflows in the last 24 hours of tokens exceeding $718 million. 

The report comes after CZ took to Twitter to assure investors with proof of reserves. It also confirms his previous claims that the exchange will survive any crypto winter as the company is in a good financial position. 


  • Despite the massive withdrawals, CZ took to Twitter to note that “yesterday was not the highest withdrawals we processed, not even top 5.”

Why You Should Care

A Binance spokesperson has assured users that the exchange cannot follow in the footsteps of FTX as users’ assets are all backed 1:1 with a debt-free capital structure.

Digest breakers Chart

Fed Raises Interest Rate by 0.5 Percent Point to the Highest in 15 Years

In response to inflation in the United States easing to its lowest level this year at 7.1%, the Federal Reserve on Wednesday, December 13th, raised its benchmark interest rate by 0.50 percent points.

In addition to the previous four 0.75 percentage points rate hikes, the latest hike has taken the interest rate to its highest point in more than 15 years – between 4.25% and 4.5%. 

There were indications in the Fed meeting that the Apex Bank will continue raising rates with no reductions until 2024. According to FOMC, the expected “terminal rate,” or the endpoint for the rate hikes, was put at 5.1%. 

The crypto market initially reacted negatively to the news of a long hike, with assets losing their gains from the day before. The global crypto market cap is down by 1.7% in the last 24 hours.


  • While inflation may be declining, market analysts at BlackRock have warned that a recession may ravage markets in 2023. 

Why You Should Care

The reduced interest rate hike shows success on the part of the Fed in the sustained fight against inflation in 2022.

Digest breakers Blocks

The Realized Loss of FTX’s Collapse Peaked at $9 Billion, Lower than Expected

As the dust from the FTX collapse settles, on-chain data shows it wasn’t the biggest loss for crypto investors in 2022, despite the event dominating headlines over the last six weeks. 

In a Wednesday, December 14th report, Chainalysis explained that the realized losses from the FTX collapse peaked at $9 billion. However, it led to Bankman-Fried’s entire $16 billion empire being wiped out.

According to the report, the “de-pegging of Terra’s UST token and the collapse weeks later of Celsius and Three Arrows Capital (3AC) drove much bigger realized losses” at $20.5 billion and $33.0 billion, respectively.

The report notes that the realized losses do not include the assets of investors frozen on the FTX exchange, as the likelihood of investors recovering their funds seems minimal. 


  • According to Tuesday’s charges against Bankman-Fried from the Commodities Futures Trading Commission, at least $8 billion of users’ funds are missing.

Why You Should Care

Although the collapse of FTX heightened distrust in the industry, data suggests that the heaviest-hitting crypto events were already behind investors.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

DailyCoin Team

DailyCoin is an online media outlet, with a focus to cover blockchain and crypto news, opinions, trends and helpful articles. We focus on delivering fast and objective news about cryptocurrencies and crypto markets with a swirl of passion. Our dedicated and motivated global team is here to deliver the highest quality content. If you want to collaborate with DailyCoin and become our contibutor, please contact us at