diff --git a/CHANGELOG.md b/CHANGELOG.md
index 659057b2a987..3e59de9317bd 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,14 @@ This file contains notable changes (e.g. breaking changes, major changes, etc.)
 
 This file was introduced starting Kani 0.23.0, so it only contains changes from version 0.23.0 onwards.
 
+## [0.33.0]
+
+## What's Changed
+* Upgrade Rust toolchain to nightly-2023-07-01 by @qinheping in https://github.com/model-checking/kani/pull/2616
+* Bump CBMC version to 5.88.1 by @zhassan-aws in https://github.com/model-checking/kani/pull/2623
+
+**Full Changelog**: https://github.com/model-checking/kani/compare/kani-0.32.0...kani-0.33.0
+
 ## [0.32.0]
 
 ## What's Changed
diff --git a/Cargo.lock b/Cargo.lock
index 0847cd2f318a..44a48230126e 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -120,7 +120,7 @@ dependencies = [
 
 [[package]]
 name = "build-kani"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "anyhow",
  "cargo_metadata",
@@ -264,7 +264,7 @@ dependencies = [
 
 [[package]]
 name = "cprover_bindings"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "lazy_static",
  "linear-map",
@@ -484,14 +484,14 @@ checksum = "62b02a5381cc465bd3041d84623d0fa3b66738b52b8e2fc3bab8ad63ab032f4a"
 
 [[package]]
 name = "kani"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "kani_macros",
 ]
 
 [[package]]
 name = "kani-compiler"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "clap",
  "cprover_bindings",
@@ -512,7 +512,7 @@ dependencies = [
 
 [[package]]
 name = "kani-driver"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "anyhow",
  "cargo_metadata",
@@ -539,7 +539,7 @@ dependencies = [
 
 [[package]]
 name = "kani-verifier"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "anyhow",
  "home",
@@ -548,7 +548,7 @@ dependencies = [
 
 [[package]]
 name = "kani_macros"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "proc-macro-error",
  "proc-macro2",
@@ -558,7 +558,7 @@ dependencies = [
 
 [[package]]
 name = "kani_metadata"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "cprover_bindings",
  "serde",
@@ -1146,7 +1146,7 @@ checksum = "62bb4feee49fdd9f707ef802e22365a35de4b7b299de4763d44bfea899442ff9"
 
 [[package]]
 name = "std"
-version = "0.32.0"
+version = "0.33.0"
 dependencies = [
  "kani",
 ]
diff --git a/Cargo.toml b/Cargo.toml
index bb0dffcfaf1f..c29c24641027 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "kani-verifier"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 description = "A bit-precise model checker for Rust."
 readme = "README.md"
diff --git a/cprover_bindings/Cargo.toml b/cprover_bindings/Cargo.toml
index 938b93606fd2..c9faf133a975 100644
--- a/cprover_bindings/Cargo.toml
+++ b/cprover_bindings/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "cprover_bindings"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 license = "MIT OR Apache-2.0"
 publish = false
diff --git a/kani-compiler/Cargo.toml b/kani-compiler/Cargo.toml
index f23fc40e4b8c..23a6b96d18de 100644
--- a/kani-compiler/Cargo.toml
+++ b/kani-compiler/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "kani-compiler"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 license = "MIT OR Apache-2.0"
 publish = false
diff --git a/kani-driver/Cargo.toml b/kani-driver/Cargo.toml
index a4385206f83f..bd0f5148ace1 100644
--- a/kani-driver/Cargo.toml
+++ b/kani-driver/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "kani-driver"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 description = "Build a project with Kani and run all proof harnesses"
 license = "MIT OR Apache-2.0"
diff --git a/kani_metadata/Cargo.toml b/kani_metadata/Cargo.toml
index 7b908e068fa5..c810a4be9d5e 100644
--- a/kani_metadata/Cargo.toml
+++ b/kani_metadata/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "kani_metadata"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 license = "MIT OR Apache-2.0"
 publish = false
diff --git a/library/kani/Cargo.toml b/library/kani/Cargo.toml
index 8d44bb760367..34f80d3c3d56 100644
--- a/library/kani/Cargo.toml
+++ b/library/kani/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "kani"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 license = "MIT OR Apache-2.0"
 publish = false
diff --git a/library/kani_macros/Cargo.toml b/library/kani_macros/Cargo.toml
index 78b8fbb529da..d4b3ccdc0325 100644
--- a/library/kani_macros/Cargo.toml
+++ b/library/kani_macros/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "kani_macros"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 license = "MIT OR Apache-2.0"
 publish = false
diff --git a/library/std/Cargo.toml b/library/std/Cargo.toml
index 3cad55b31167..8c8a3ac46aff 100644
--- a/library/std/Cargo.toml
+++ b/library/std/Cargo.toml
@@ -5,7 +5,7 @@
 # Note: this package is intentionally named std to make sure the names of
 # standard library symbols are preserved
 name = "std"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 license = "MIT OR Apache-2.0"
 publish = false
diff --git a/tools/build-kani/Cargo.toml b/tools/build-kani/Cargo.toml
index 22a3d5d864e8..9ce9ee09d070 100644
--- a/tools/build-kani/Cargo.toml
+++ b/tools/build-kani/Cargo.toml
@@ -3,7 +3,7 @@
 
 [package]
 name = "build-kani"
-version = "0.32.0"
+version = "0.33.0"
 edition = "2021"
 description = "Builds Kani, Sysroot and release bundle."
 license = "MIT OR Apache-2.0"