Twitter admits to an embarrassing security mistake, Instagram moves into commerce and Google announces a new election ad policy. All that and more in The Daily Crunch for May 4, 2018.

1. You should change your Twitter password right now

Yesterday, Twitter revealed that a bug caused the platform to store user passwords in unmasked form. In this instance, it sounds like Twitter stored plain text passwords openly without any hashing on an internal log.

The company says it has "no reason to believe password information ever left Twitter's system," but just to be safe, you should go ahead and change that password.

2. Instagram quietly launches payments for commerce

The new feature, which has been stealthily released to some users, lets you register a debit or credit card as part of a profile, set up a security pin, then start buying things without ever leaving Instagram.

3. Google rolls out new policies for U.S. election ads

Specifically, any advertiser who wants to buy an election ad on Google in the United States will now have to go through additional verification to prove they are a citizen or lawful permanent resident, as required by law. That means providing a government-issued I.D. and other key information.

4. Pandora shares up 8% after surprise earnings beat

Wall Street liked that the company showed a sizable increase in subscriber revenue, posting $104.7 million, a 63 percent increase from last year. Pandora has 5.63 million paid listeners, up 19 percent from the same timeframe in 2017.

5. A group of public radio companies acquires podcast app Pocket Casts

That might sound like a lot of owners for one app, but the idea is to run Pocket Casts as a joint venture. And while former iHeartRadio executive Owen Grover is becoming CEO, NPR says the existing Pocket Casts team will remain in place.

6. MoviePass competitor Sinemia launches $4.99 per month subscriptions

To be clear, at the cheapest price tier, you only get one ticket per month. Still, it's not a bad deal.

7. Ex-Volkswagen CEO charged for role in diesel emission scandal

Former CEO Martin Winterkorn has been charged with conspiracy and wire fraud in a U.S. court. Winterkorn stepped down from his role at Volkswagen in September of 2015.