diff --git a/NEWS b/NEWS
index 124d059d..e7bfa1d9 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,36 @@
+= RubyMotion 2.38 =
+
+  * Optimized the app executable size when a project has too many Ruby source
+    files, by removing unnecessary internal code. ~30-60% lighter.
+  * Disabled armv7s support for iOS projects. If you want to add armv7s support
+    back, simply add the 'armv7s' value to the `app.archs['iPhoneOS']' config
+    in the project's Rakefile. This architecture is no longer enabled by
+    default in Xcode.
+  * Fixed a bug where a compiled Core Data model would be removed when cleaning
+    when an original `xcdatamodeld' was not available.
+  * Fixed a bug where in certain circumstances cleaning would try to be
+    performed when the vendor dir, e.g. `vendor/Pods' did not exist.
+  * Fixed a few cases where the Yosemite version number was parsed incorrectly.
+  * Added support for `axel' as an alternative to `curl' when downloading
+    updates, which supports resuming and uses 10 connections to improve speed.
+    Axel is available from http://wilmer.gaast.net/main.php/axel.html or can be
+    installed through Homebrew: `$ brew install axel'.
+  * Fixed a regression where `rake spec' did not work on OS X platform.
+  * Fixed a bug where Dispatch.once did not work correctly with x86_64 on
+    iPhone simulator and i386 on OS X platforms.
+  * Fixed a bug where `:cflags' for `:static' vendored projects could not
+    override those set by the toolchain by default. E.g. `-fno-modules'.
+  * Fixed the `motion --version' command invocation to print both the stable
+    and pre-release versions of RubyMotion.
+  * [OSX] Fixed a bug where embedded frameworks would not be codesigned as per
+    the current requirements for the App Store.
+  * [iOS] Removed `Symbols not found...' message when app will be deployed into
+    iOS device if Xcode dumped device symbols into user directory.
+  * [iOS] Fixed a bug which it could not recognized Provisioning Profile which
+    is generated with "iOSTeam Provisioning Profile".
+  * [OSX] Fixed a bug where BigDecimal#inspect would return invalid string on
+    Yosemite.
+
 = RubyMotion 2.37 =
 
   * Fixed a regression where Dispatch.once did not work correctly when it was
diff --git a/lib/motion/version.rb b/lib/motion/version.rb
index cef74f01..4fd60c98 100644
--- a/lib/motion/version.rb
+++ b/lib/motion/version.rb
@@ -24,5 +24,5 @@
 # SOFTWARE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
 
 module Motion
-  Version = "2.37"
+  Version = "2.38"
 end