diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1f6d3bb6f27..290e0aebab6 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -15,16 +15,30 @@ full changeset diff at the end of each section.
 Current Trunk
 -------------
 
+v123
+----
+
+ - We now support "exact" references from the custom descriptors proposal,
+   and emit such references when the feature is enabled. As a result, using
+   `-all` will enable that feature (among all others), and cause GC-using
+   binaries to use that feature, which most VMs do not yet support. To avoid
+   such VM errors, either enable only the features you want, or disable it:
+   `-all --disable-custom-descriptors`.
+ - Use mimalloc allocator for Linux static builds, making our official release
+   binaries a lot faster. (#7378)
  - Add an option to preserve imports and exports in the fuzzer (for fuzzer
    harnesses where they only want Binaryen to modify their given testcases, not
-   generate new things in them).
+   generate new things in them). (#7300)
  - `string` is now a subtype of `ext` (rather than `any`). This allows better
    transformations for strings, like an inverse of StringLowering, but will
    error on codebases that depend on being able to pass strings into anyrefs.
+   (#7373)
  - Require the type of RefFunc expressions to match the type of the referenced
-   function. It is no longer valid to type them as funcref in the IR.
+   function. It is no longer valid to type them as funcref in the IR. (#7376)
  - The C and JS APIs for creating RefFunc expressions now take a HeapType
    instead of a Type.
+ - MergeSimilarFunctions: Do a return_call when possible (necessary for
+   correctness in wasm files that depend on calls for control flow). (#7350)
 
 v122
 ----
diff --git a/CMakeLists.txt b/CMakeLists.txt
index c6ebf9f5381..90edcb2c858 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -7,7 +7,7 @@ cmake_minimum_required(VERSION 3.16.3)
 # to reduce this for compatability with emsdk.
 set(CMAKE_OSX_DEPLOYMENT_TARGET "10.14" CACHE STRING "Minimum OS X deployment version")
 
-project(binaryen LANGUAGES C CXX VERSION 122)
+project(binaryen LANGUAGES C CXX VERSION 123)
 include(GNUInstallDirs)
 
 # The C++ standard whose features are required to build Binaryen.