diff --git a/releases/Next-ChangeLog.md b/releases/Next-ChangeLog.md
index cd01990e..f0959b69 100644
--- a/releases/Next-ChangeLog.md
+++ b/releases/Next-ChangeLog.md
@@ -4,30 +4,34 @@ This lists the new changes that have not yet been published in a normal release.
 
 # Shared Improvements - Both Mk4 and Q
 
-- New: Added `Bull Bitcoin` export to `Export Wallet` menu
+- Added `Bull Bitcoin` export to `Export Wallet` menu
 - Enhancement: Add warning for zero value outputs if not `OP_RETURN`
-- Enhancement: Show QR codes of output addresses in Txn output explorer. Output explorer is
-  now offered for transactions of all sizes.
-- Bugfix: If all change outputs have `nValue=0` they're not shown in UX.
+- Enhancement: Show QR codes of output addresses in transaction output explorer. Explorer is
+  now offered for transactions of all sizes, not just complex ones.
+- Bugfix: If all change outputs have `nValue=0` they were not shown in UX.
 - Bugfix: Disallow negative input/output amounts in PSBT.
-- Bugfix: Fix filesystem initialization after Wife LFS or Destroy Seed
+- Bugfix: Fix filesystem initialization after Wife LFS or Destroy Seed.
 
-# Spending Policy Feature
+## Spending Policy Feature
+
+- new feature: Spending policies for "Single Signer" adds spending policy options:
+    - limit your Coldcard so it refuses to sign transactions that are "too big"
+    - require 2FA authentication before signing any transaction (NFC+web)
+    - velocity limits can restrict how often new transactions can be signed
+    - see `docs/spending-policy.md` for details
 - "Enable HSM" and "User Management" have moved into Advanced > Spending Policy
-- old "CCC" feature has been renamed and moved into that menu
-- new feature: Spending policies for "Single Signer" added:
-    - power new stuff
+- old "CCC" feature has been renamed and moved into that menu as well
 
 # Mk4 Specific Changes
 
-## 5.4.? - 2025-08-xx
+## 5.4.4 - 2025-09-1x
 
 - Bugfix: Part of extended keys in stories were not always visible.
 
 
 # Q Specific Changes
 
-## 1.3.?Q - 2025-08-xx
+## 1.3.4Q - 2025-09-1x
 
 - Bugfix: Correct line positioning when 24 seed words displayed.
 
diff --git a/stm32/MK4-Makefile b/stm32/MK4-Makefile
index 33964ea0..1916ba1f 100644
--- a/stm32/MK4-Makefile
+++ b/stm32/MK4-Makefile
@@ -19,7 +19,7 @@ LATEST_RELEASE = $(shell ls -t1 ../releases/*-mk4-*.dfu | head -1)
 
 # Our version for this release.
 # - caution, the bootrom will not accept version < 3.0.0
-VERSION_STRING = 5.4.3
+VERSION_STRING = 5.4.4
 
 # keep near top, because defined default target (all)
 include shared.mk
diff --git a/stm32/Q1-Makefile b/stm32/Q1-Makefile
index 2b6b1b28..081c4cc5 100644
--- a/stm32/Q1-Makefile
+++ b/stm32/Q1-Makefile
@@ -16,7 +16,7 @@ BOOTLOADER_DIR = q1-bootloader
 LATEST_RELEASE = $(shell ls -t1 ../releases/*-q1-*.dfu | head -1)
 
 # Our version for this release.
-VERSION_STRING = 1.3.3Q
+VERSION_STRING = 1.3.4Q
 
 # Remove this closer to shipping.
 #$(warning "Forcing debug build")