diff --git a/CHANGELOG.md b/CHANGELOG.md
index 513f655766..7e9b5070ff 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+Changes in [3.88.0](https://github.com/matrix-org/matrix-react-sdk/releases/tag/v3.88.0) (2024-01-04)
+=====================================================================================================
+## 🐛 Bug Fixes
+
+* Fix a fresh login creating a new key backup ([#12106](https://github.com/matrix-org/matrix-react-sdk/pull/12106)).
+
 Changes in [3.87.0](https://github.com/matrix-org/matrix-react-sdk/releases/tag/v3.87.0) (2023-12-19)
 =====================================================================================================
 ## ✨ Features
diff --git a/package.json b/package.json
index 839ff39a3a..2eb9179ceb 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
     "name": "matrix-react-sdk",
-    "version": "3.87.0",
+    "version": "3.88.0",
     "description": "SDK for matrix.org using React",
     "author": "matrix.org",
     "repository": {