diff --git a/CHANGES.md b/CHANGES.md
index a1dcbf6f58..13d3654095 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -13,6 +13,15 @@ Internal Changes
 - Move docker image build to Github Actions. ([\#10416](https://github.com/matrix-org/synapse/issues/10416))
 
 
+Synapse 1.38.1 (2021-07-22)
+===========================
+
+Bugfixes
+--------
+
+- Always include `device_one_time_keys_count` key in `/sync` response to work around a bug in Element Android that broke encryption for new devices. ([\#10457](https://github.com/matrix-org/synapse/issues/10457))
+
+
 Synapse 1.39.0rc1 (2021-07-20)
 ==============================
 
diff --git a/debian/changelog b/debian/changelog
index 4d214c23b6..2062c6caef 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.38.1) stable; urgency=medium
+
+  * New synapse release 1.38.1.
+
+ -- Synapse Packaging team <packages@matrix.org>  Thu, 22 Jul 2021 15:37:06 +0100
+
 matrix-synapse-py3 (1.39.0~rc1) stable; urgency=medium
 
   * New synapse release 1.39.0rc1.