diff --git a/CHANGELOG.md b/CHANGELOG.md
index b0eccbcd6a9a..178eabbccc78 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -35,6 +35,12 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ## [Unreleased]
 
+## [v0.37.12] - 2020-05-05
+
+### Improvements
+
+* (tendermint) Bump Tendermint version to [v0.32.11](https://github.com/tendermint/tendermint/releases/tag/v0.32.11).
+
 ## [v0.37.11] - 2020-04-22
 
 ### Bug Fixes
diff --git a/go.mod b/go.mod
index e49ec355ccc9..da1ec6718314 100644
--- a/go.mod
+++ b/go.mod
@@ -25,7 +25,7 @@ require (
 	github.com/tendermint/crypto v0.0.0-20180820045704-3764759f34a5
 	github.com/tendermint/go-amino v0.15.0
 	github.com/tendermint/iavl v0.12.4
-	github.com/tendermint/tendermint v0.32.10
+	github.com/tendermint/tendermint v0.32.11
 	github.com/tendermint/tm-db v0.2.0
 	gopkg.in/yaml.v2 v2.2.7
 )
diff --git a/go.sum b/go.sum
index 7394fa9652ae..b49a377c0128 100644
--- a/go.sum
+++ b/go.sum
@@ -232,8 +232,8 @@ github.com/tendermint/go-amino v0.15.0/go.mod h1:TQU0M1i/ImAo+tYpZi73AU3V/dKeCoM
 github.com/tendermint/iavl v0.12.4 h1:hd1woxUGISKkfUWBA4mmmTwOua6PQZTJM/F0FDrmMV8=
 github.com/tendermint/iavl v0.12.4/go.mod h1:8LHakzt8/0G3/I8FUU0ReNx98S/EP6eyPJkAUvEXT/o=
 github.com/tendermint/tendermint v0.32.1/go.mod h1:jmPDAKuNkev9793/ivn/fTBnfpA9mGBww8MPRNPNxnU=
-github.com/tendermint/tendermint v0.32.10 h1:2NSVddRwicGb8a2Hu0QccQAy8uW0zD8Y1y4JeWTLS0U=
-github.com/tendermint/tendermint v0.32.10/go.mod h1:5/B1XZjNYtVBso8o1l/Eg4A0Mhu42lDcmftoQl95j/E=
+github.com/tendermint/tendermint v0.32.11 h1:o770nBHgDPnANsMXG5bMR5ibMQYB14PFtUum64UA/Uc=
+github.com/tendermint/tendermint v0.32.11/go.mod h1:5/B1XZjNYtVBso8o1l/Eg4A0Mhu42lDcmftoQl95j/E=
 github.com/tendermint/tm-db v0.1.1/go.mod h1:0cPKWu2Mou3IlxecH+MEUSYc1Ch537alLe6CpFrKzgw=
 github.com/tendermint/tm-db v0.2.0 h1:rJxgdqn6fIiVJZy4zLpY1qVlyD0TU6vhkT4kEf71TQQ=
 github.com/tendermint/tm-db v0.2.0/go.mod h1:0cPKWu2Mou3IlxecH+MEUSYc1Ch537alLe6CpFrKzgw=