JSFiddle - React, Tailwind, and code Playground

HTML

<textarea></textarea>
<div id="images"></div>

JavaScript

$('textarea').on('paste', function (ev) {
    var clipboardData = ev.originalEvent.clipboardData;
    
    if (clipboardData) {
        if (clipboardData.items.length == 0)
            return;

        $.each(clipboardData.items, function (i, item) {
            if (item.type.indexOf("image") !== -1) {
                insertBinaryImage(item.getAsFile());
            }
        });
        
        return false;
    }
});

// Inserts a base64-encoded image to the editor.
function insertBinaryImage(file) {
    var reader = new FileReader();
    
    reader.addEventListener('loadend', function () {
        var img = new Image();
        img.src = reader.result;
        
        $('#images').empty().append(img);
    });
    
    reader.readAsDataURL(file);
}