diff --git a/ci/docker-rust-nightly/Dockerfile b/ci/docker-rust-nightly/Dockerfile
index 86adea5ddf619c..d463de2db4cf08 100644
--- a/ci/docker-rust-nightly/Dockerfile
+++ b/ci/docker-rust-nightly/Dockerfile
@@ -1,4 +1,4 @@
-FROM solanalabs/rust:1.48.0
+FROM solanalabs/rust:1.49.0
 ARG date
 
 RUN set -x \
diff --git a/ci/docker-rust/Dockerfile b/ci/docker-rust/Dockerfile
index 74c992e78fc47f..26aafdabed89ae 100644
--- a/ci/docker-rust/Dockerfile
+++ b/ci/docker-rust/Dockerfile
@@ -1,6 +1,6 @@
 # Note: when the rust version is changed also modify
 # ci/rust-version.sh to pick up the new image tag
-FROM rust:1.48.0
+FROM rust:1.49.0
 
 # Add Google Protocol Buffers for Libra's metrics library.
 ENV PROTOC_VERSION 3.8.0
diff --git a/ci/rust-version.sh b/ci/rust-version.sh
index 14c76ddd1f6bfb..7dc982fae60cf2 100644
--- a/ci/rust-version.sh
+++ b/ci/rust-version.sh
@@ -18,13 +18,13 @@
 if [[ -n $RUST_STABLE_VERSION ]]; then
   stable_version="$RUST_STABLE_VERSION"
 else
-  stable_version=1.48.0
+  stable_version=1.49.0
 fi
 
 if [[ -n $RUST_NIGHTLY_VERSION ]]; then
   nightly_version="$RUST_NIGHTLY_VERSION"
 else
-  nightly_version=2020-12-13
+  nightly_version=2021-01-23
 fi
 
 
diff --git a/web3.js/package-lock.json b/web3.js/package-lock.json
index 750dac0eae6a6c..97644e141e294e 100644
--- a/web3.js/package-lock.json
+++ b/web3.js/package-lock.json
@@ -10659,9 +10659,9 @@
       "dev": true
     },
     "flow-bin": {
-      "version": "0.130.0",
-      "resolved": "https://registry.npmjs.org/flow-bin/-/flow-bin-0.130.0.tgz",
-      "integrity": "sha512-1TSLwCPXvKPwiae7Fh+dpipCzwlHQ1UcBHfCpQImz+hsxYIUWkLWJWEm34bY6I7dSM4ekSiVeP02BhzVJGwtpw==",
+      "version": "0.143.1",
+      "resolved": "https://registry.npmjs.org/flow-bin/-/flow-bin-0.143.1.tgz",
+      "integrity": "sha512-6S6bgZ/pghBzEUELXkwFH/bsHT+GBMo8ftHDYs0SSJ+1e6NRdFfqxcYhaTvAK8zteSfQLZBIoec6G4WPPp4qQg==",
       "dev": true
     },
     "flow-typed": {
diff --git a/web3.js/package.json b/web3.js/package.json
index ceff6635a8a431..70f3de8ab6e1db 100644
--- a/web3.js/package.json
+++ b/web3.js/package.json
@@ -122,7 +122,7 @@
     "eslint-plugin-import": "2.22.1",
     "eslint-plugin-jest": "22.19.0",
     "eslint-plugin-prettier": "^3.0.0",
-    "flow-bin": "0.130.0",
+    "flow-bin": "0.143.1",
     "flow-typed": "3.2.1",
     "fs-file-tree": "1.1.1",
     "jest": "26.6.3",