diff --git a/Makefile b/Makefile
index 3eadc4bf7b..834bd4a2ed 100644
--- a/Makefile
+++ b/Makefile
@@ -360,7 +360,7 @@ ifdef UPGRADE_TEST_FROM_SOURCE
 zetanode-upgrade: e2e-images
 	@echo "Building zetanode-upgrade from source"
 	$(DOCKER) build -t zetanode:old -f Dockerfile-localnet --target old-runtime-source \
-		--build-arg OLD_VERSION='release/v29' \
+		--build-arg OLD_VERSION='release/v31' \
 		--build-arg NODE_VERSION=$(NODE_VERSION) \
 		--build-arg NODE_COMMIT=$(NODE_COMMIT)
 		.
@@ -369,7 +369,7 @@ else
 zetanode-upgrade: e2e-images
 	@echo "Building zetanode-upgrade from binaries"
 	$(DOCKER) build -t zetanode:old -f Dockerfile-localnet --target old-runtime \
-	--build-arg OLD_VERSION='https://github.com/zeta-chain/node/releases/download/v29.0.0' \
+	--build-arg OLD_VERSION='https://github.com/zeta-chain/node/releases/download/v31.0.1' \
 	--build-arg NODE_VERSION=$(NODE_VERSION) \
 	--build-arg NODE_COMMIT=$(NODE_COMMIT) \
 	.
diff --git a/changelog.md b/changelog.md
index f722fc2673..f09b0f4cda 100644
--- a/changelog.md
+++ b/changelog.md
@@ -1,5 +1,11 @@
 # CHANGELOG
 
+## v32.0.0
+
+### Chores
+
+* [4003](https://github.com/zeta-chain/node/pull/4003) - upgrade Cosmos SDK to v0.50.14
+
 ## v31.1
 
 ### Features
diff --git a/e2e/e2etests/e2etests.go b/e2e/e2etests/e2etests.go
index fe3fb71076..8bd096eedd 100644
--- a/e2e/e2etests/e2etests.go
+++ b/e2e/e2etests/e2etests.go
@@ -1108,7 +1108,7 @@ var AllE2ETests = []runner.E2ETest{
 			{Description: "fee rate", DefaultValue: "10"},
 		},
 		TestBitcoinStdMemoInscribedDepositAndCall,
-		runner.WithMinimumVersion("v30.0.0"),
+		runner.WithMinimumVersion("v32.0.0"),
 	),
 	runner.NewE2ETest(
 		TestBitcoinDepositAndAbortWithLowDepositFeeName,
diff --git a/go.mod b/go.mod
index e20ba385e7..692ada3554 100644
--- a/go.mod
+++ b/go.mod
@@ -15,7 +15,7 @@ require (
 	github.com/cometbft/cometbft v0.38.17
 	github.com/cometbft/cometbft-db v0.14.1
 	github.com/cosmos/btcutil v1.0.5
-	github.com/cosmos/cosmos-sdk v0.50.13
+	github.com/cosmos/cosmos-sdk v0.50.14
 	github.com/cosmos/gogoproto v1.7.0
 	github.com/cosmos/ibc-go/v8 v8.5.2
 	github.com/davecgh/go-spew v1.1.2-0.20180830191138-d8f796af33cc
@@ -257,7 +257,7 @@ require (
 	github.com/tendermint/btcd v0.1.1
 	github.com/tendermint/go-amino v0.16.0 // indirect
 	github.com/tidwall/btree v1.7.0 // indirect
-	github.com/tidwall/gjson v1.14.4 // indirect
+	github.com/tidwall/gjson v1.14.4
 	github.com/tidwall/match v1.1.1 // indirect
 	github.com/tidwall/pretty v1.2.0 // indirect
 	github.com/tidwall/sjson v1.2.5 // indirect
diff --git a/go.sum b/go.sum
index a5fdadb833..1c7ccbbf4b 100644
--- a/go.sum
+++ b/go.sum
@@ -426,8 +426,8 @@ github.com/cosmos/cosmos-db v1.1.1 h1:FezFSU37AlBC8S98NlSagL76oqBRWq/prTPvFcEJNC
 github.com/cosmos/cosmos-db v1.1.1/go.mod h1:AghjcIPqdhSLP/2Z0yha5xPH3nLnskz81pBx3tcVSAw=
 github.com/cosmos/cosmos-proto v1.0.0-beta.5 h1:eNcayDLpip+zVLRLYafhzLvQlSmyab+RC5W7ZfmxJLA=
 github.com/cosmos/cosmos-proto v1.0.0-beta.5/go.mod h1:hQGLpiIUloJBMdQMMWb/4wRApmI9hjHH05nefC0Ojec=
-github.com/cosmos/cosmos-sdk v0.50.13 h1:xQ32hhzVy7agEe7behMdZN0ezWhPss3KoLZsF9KoBnw=
-github.com/cosmos/cosmos-sdk v0.50.13/go.mod h1:hrWEFMU1eoXqLJeE6VVESpJDQH67FS1nnMrQIjO2daw=
+github.com/cosmos/cosmos-sdk v0.50.14 h1:G8CtGHFWbExa+ZpVOVAb4kFmko/R30igsYOwyzRMtgY=
+github.com/cosmos/cosmos-sdk v0.50.14/go.mod h1:hrWEFMU1eoXqLJeE6VVESpJDQH67FS1nnMrQIjO2daw=
 github.com/cosmos/go-bip39 v1.0.0 h1:pcomnQdrdH22njcAatO0yWojsUnCO3y2tNoV1cb6hHY=
 github.com/cosmos/go-bip39 v1.0.0/go.mod h1:RNJv0H/pOIVgxw6KS7QeX2a0Uo0aKUlfhZ4xuwvCdJw=
 github.com/cosmos/gogogateway v1.2.0 h1:Ae/OivNhp8DqBi/sh2A8a1D0y638GpL3tkmLQAiKxTE=