diff --git a/Cargo.lock b/Cargo.lock
index c52cfb3b9..e48c3f60c 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -22,9 +22,9 @@ dependencies = [
 
 [[package]]
 name = "anyhow"
-version = "1.0.103"
+version = "1.0.104"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2a4385e2e34eb35d6b3efe798b9eb88096925d87726c0798709bf56d9ed84af3"
+checksum = "330a5ed07fa54e4702c9d6c4174f74427fc0ef6e214bbd677ae50a5099946470"
 
 [[package]]
 name = "auditable-serde"
@@ -124,9 +124,9 @@ dependencies = [
 
 [[package]]
 name = "cpp_demangle"
-version = "0.4.5"
+version = "0.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f2bb79cb74d735044c972aae58ed0aaa9a837e85b01106a54c39e42e97f62253"
+checksum = "0667304c32ea56cb4cd6d2d7c0cfe9a2f8041229db8c033af7f8d69492429def"
 dependencies = [
  "cfg-if",
 ]
@@ -142,9 +142,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.133.1"
+version = "0.134.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "03b4982ef9fa54ec9eee841e891e7ddc5434be1250e88de31572e000c888f30b"
+checksum = "6867e99f068454b0c81c50b807af88aa80aaf383105e2be26675d81fc4278466"
 dependencies = [
  "cranelift-entity",
  "wasmtime-internal-core",
@@ -152,9 +152,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-bitset"
-version = "0.133.1"
+version = "0.134.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "529143118c4eeb58c39ecb02319557d512be6c61348486422974ab8e3906b8a8"
+checksum = "3cf66017aed971344230199ad35ca01c955cf824a0e65fed5240452d2a302445"
 dependencies = [
  "serde",
  "serde_derive",
@@ -163,9 +163,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-entity"
-version = "0.133.1"
+version = "0.134.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a5300c49cf940526fe771517b3b3eabd5d0ff164ee61698579cf403fe8d3af3c"
+checksum = "584ecabe1462593a9cba9efbf9022e0987421ddb548989b455ab8bdd444b743c"
 dependencies = [
  "cranelift-bitset",
  "serde",
@@ -541,12 +541,12 @@ dependencies = [
  "heck 0.5.0",
  "log",
  "semver",
- "wasm-encoder 0.253.0",
- "wasmparser 0.253.0",
+ "wasm-encoder 0.254.0",
+ "wasmparser 0.254.0",
  "wasmtime-environ",
  "wit-bindgen-core",
  "wit-component",
- "wit-parser 0.253.0",
+ "wit-parser 0.254.0",
 ]
 
 [[package]]
@@ -1020,29 +1020,29 @@ checksum = "0b928f33d975fc6ad9f86c8f283853ad26bdd5b10b7f1542aa2fa15e2289105a"
 
 [[package]]
 name = "wasm-encoder"
-version = "0.251.0"
+version = "0.252.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5a879a421bd17c528b74721b2abf4c62e8f1d1889c2ba8c3c50d02deaf2ce395"
+checksum = "8185ae345fa5687c054626ff9a50e7089797a343d9904d1dc9820eb4c4d3196f"
 dependencies = [
  "leb128fmt",
- "wasmparser 0.251.0",
+ "wasmparser 0.252.0",
 ]
 
 [[package]]
 name = "wasm-encoder"
-version = "0.253.0"
+version = "0.254.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "59972d6cd272259de647b7c1f1912e45e289c75ffd4be04e10695507cd7e1b59"
+checksum = "09480d646178e5fdd12bb06e812d0af9a3a191dbc9cd697fdc86687beade7393"
 dependencies = [
  "leb128fmt",
- "wasmparser 0.253.0",
+ "wasmparser 0.254.0",
 ]
 
 [[package]]
 name = "wasm-metadata"
-version = "0.253.0"
+version = "0.254.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b3f45816ef616806f48498bcd831377de578c4fa51db0c83ab8ceb78cc13523b"
+checksum = "b01df5f3b4ca7881e843f3bc0fb8a3905d79c68692250dcb8e33e698705ccdb6"
 dependencies = [
  "anyhow",
  "auditable-serde",
@@ -1053,8 +1053,8 @@ dependencies = [
  "serde_json",
  "spdx",
  "url",
- "wasm-encoder 0.253.0",
- "wasmparser 0.253.0",
+ "wasm-encoder 0.254.0",
+ "wasmparser 0.254.0",
 ]
 
 [[package]]
@@ -1062,14 +1062,14 @@ name = "wasm-tools-js"
 version = "0.1.0"
 dependencies = [
  "anyhow",
- "wasm-encoder 0.253.0",
+ "wasm-encoder 0.254.0",
  "wasm-metadata",
- "wasmparser 0.253.0",
- "wasmprinter 0.253.0",
+ "wasmparser 0.254.0",
+ "wasmprinter 0.254.0",
  "wat",
  "wit-bindgen",
  "wit-component",
- "wit-parser 0.253.0",
+ "wit-parser 0.254.0",
 ]
 
 [[package]]
@@ -1085,9 +1085,9 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.251.0"
+version = "0.252.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "437970b35b1a85cfde9c74b2398352d8d653f3bd8e3a3db0c063ea8f5b4b36ff"
+checksum = "d3eb099dcadcde5be9eef55e3a337128efd4e44b4c93122487e4d2e4e1c6627c"
 dependencies = [
  "bitflags 2.13.0",
  "hashbrown 0.17.1",
@@ -1098,9 +1098,9 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.253.0"
+version = "0.254.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "19db11f87d2486580e1e8b6f494c54df7e0566b87d0b599db843c24019667339"
+checksum = "d5769a29f799fbab136aaf65b4fe5384cd7d93fe6fc9ba0dcb6c8382a1f16e27"
 dependencies = [
  "bitflags 2.13.0",
  "hashbrown 0.17.1",
@@ -1110,31 +1110,31 @@ dependencies = [
 
 [[package]]
 name = "wasmprinter"
-version = "0.251.0"
+version = "0.252.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8798c1a699bd25648b6708eefe94d97c6f9891febb94b42cca1f7a4b086ea64e"
+checksum = "7142797de29b35ab8dbf15c00f55fda75d409da4c423a8ab8bd6b667a785824b"
 dependencies = [
  "anyhow",
  "termcolor",
- "wasmparser 0.251.0",
+ "wasmparser 0.252.0",
 ]
 
 [[package]]
 name = "wasmprinter"
-version = "0.253.0"
+version = "0.254.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cafccdb2ba2cffd9c4f96b88a9710651d63266e858d54be262a141b528b26dac"
+checksum = "64e3ba11e024f504698f87b629b2b66c22a1231758de7607754963f7d198be39"
 dependencies = [
  "anyhow",
  "termcolor",
- "wasmparser 0.253.0",
+ "wasmparser 0.254.0",
 ]
 
 [[package]]
 name = "wasmtime-environ"
-version = "46.0.1"
+version = "47.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d45863de41977ec6453e859cf843d456fa3fcb45a659b66d16e794f90ec4f5b7"
+checksum = "9915e3d90c36a16e0fec8be746ee87e21cf0d4a017ecf09c49b7d1cc6f31b2b6"
 dependencies = [
  "anyhow",
  "cpp_demangle",
@@ -1154,24 +1154,24 @@ dependencies = [
  "sha2",
  "smallvec",
  "target-lexicon",
- "wasm-encoder 0.251.0",
- "wasmparser 0.251.0",
- "wasmprinter 0.251.0",
+ "wasm-encoder 0.252.0",
+ "wasmparser 0.252.0",
+ "wasmprinter 0.252.0",
  "wasmtime-internal-component-util",
  "wasmtime-internal-core",
 ]
 
 [[package]]
 name = "wasmtime-internal-component-util"
-version = "46.0.1"
+version = "47.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "819ad5abd5822a22dbf4014475cdfd1fe790707761cd732d74aaa3ba4d5ba489"
+checksum = "f45bf943cff1d2f1976bac6a241ca4ecaf29a6efd5f1ad89e7722439fa5c392f"
 
 [[package]]
 name = "wasmtime-internal-core"
-version = "46.0.1"
+version = "47.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3fc28372e36eaf8cf70faa83b5779137f7e99c8d18569a125d1580e735cc9e4d"
+checksum = "ea33e1f9685be82f90223bebcf2ffefb6b596ea3d82a3c42384527b9c6f5b447"
 dependencies = [
  "hashbrown 0.17.1",
  "libm",
@@ -1180,22 +1180,22 @@ dependencies = [
 
 [[package]]
 name = "wast"
-version = "253.0.0"
+version = "254.0.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d3264542f8965c5d84fb1085d924bfba9a6314bb228eff13a2de14d7627664d0"
+checksum = "e7ed4dfc8f6b9fc38b231065e2cdfbf7359af5ab945990abf09658dcc63c3e32"
 dependencies = [
  "bumpalo",
  "leb128fmt",
  "memchr",
  "unicode-width 0.2.2",
- "wasm-encoder 0.253.0",
+ "wasm-encoder 0.254.0",
 ]
 
 [[package]]
 name = "wat"
-version = "1.253.0"
+version = "1.254.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4bfc5ce906144200c972ec617470aa35bd847472e170b26dde3e80541c674055"
+checksum = "7127f7f9b8f127c879991cecd35f494e4628bae1b0874c681414d8d8831e952c"
 dependencies = [
  "wast",
 ]
@@ -1250,29 +1250,29 @@ dependencies = [
 
 [[package]]
 name = "wit-bindgen"
-version = "0.59.0"
+version = "0.60.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "94c5e45f6d4cfaca727c1c48989ab3e05bb289bf84fbad226e1cfbbef2c04b7f"
+checksum = "a301904d6657d6364c758d869e5389d05d393b16d5b65db60b4f03cbe71bb80d"
 dependencies = [
  "wit-bindgen-rust-macro",
 ]
 
 [[package]]
 name = "wit-bindgen-core"
-version = "0.59.0"
+version = "0.60.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "05cf25dc4bb1981c16aa549ec66c6762b7752bfb8b7c3b3936ae13100298dc72"
+checksum = "48521bb96e56cbb9e031ad306c80dc20e89e69e49ada02781ee06f60fbcb545f"
 dependencies = [
  "anyhow",
  "heck 0.5.0",
- "wit-parser 0.253.0",
+ "wit-parser 0.254.0",
 ]
 
 [[package]]
 name = "wit-bindgen-rust"
-version = "0.59.0"
+version = "0.60.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "407ee2b474af1a366766fe91b8255b7935e5e3c3afb9c304e91ac3d154287ff1"
+checksum = "3df3fe9b9a0066f82fd0c2f07f79d0ffc0f85c53fa5f998516d8722712479042"
 dependencies = [
  "anyhow",
  "heck 0.5.0",
@@ -1286,9 +1286,9 @@ dependencies = [
 
 [[package]]
 name = "wit-bindgen-rust-macro"
-version = "0.59.0"
+version = "0.60.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "37386eba32427684ffe37a0f765f63ce2ece03efb1ad28c23cf69562fdc67ec0"
+checksum = "d689c4bc9d6af067c651cfba444766343c9a4bdef15fad1e2efab95c0c277af0"
 dependencies = [
  "anyhow",
  "prettyplease",
@@ -1301,9 +1301,9 @@ dependencies = [
 
 [[package]]
 name = "wit-component"
-version = "0.253.0"
+version = "0.254.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dbbd2500ac3488489ee8c6e59b79d7e47e6da5bfb019efd35d5dca57b78af624"
+checksum = "b0e65bb94c369b3c4741ce3d1d2704b1fec93db7c540df0e521a097e7ceeb5be"
 dependencies = [
  "anyhow",
  "bitflags 2.13.0",
@@ -1312,11 +1312,11 @@ dependencies = [
  "serde",
  "serde_derive",
  "serde_json",
- "wasm-encoder 0.253.0",
+ "wasm-encoder 0.254.0",
  "wasm-metadata",
- "wasmparser 0.253.0",
+ "wasmparser 0.254.0",
  "wat",
- "wit-parser 0.253.0",
+ "wit-parser 0.254.0",
 ]
 
 [[package]]
@@ -1358,9 +1358,9 @@ dependencies = [
 
 [[package]]
 name = "wit-parser"
-version = "0.253.0"
+version = "0.254.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4d997b8e5920fcbeec742b58e583325d6419a6aca617ae8075c406a61c65ba8a"
+checksum = "1655131e4f7d3f0cb141f6eca71315ca40eff0f3d4de7cff0a82bacedd8c89b4"
 dependencies = [
  "anyhow",
  "hashbrown 0.17.1",
@@ -1372,7 +1372,7 @@ dependencies = [
  "serde_derive",
  "serde_json",
  "unicode-ident",
- "wasmparser 0.253.0",
+ "wasmparser 0.254.0",
 ]
 
 [[package]]
diff --git a/Cargo.toml b/Cargo.toml
index f47215376..186cd9864 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -32,33 +32,34 @@ rpath = false
 strip = true
 
 [workspace.dependencies]
-anyhow = { version = "1.0.102", default-features = false }
-bon = { version = "3.9.1", default-features = false }
+anyhow = { version = "1.0.104", default-features = false }
+bon = { version = "3.9.3", default-features = false }
 base64 = { version = "0.22.1", default-features = false }
 cargo_metadata = { version = "0.23.1", default-features = false }
 heck = { version = "0.5.0", default-features = false }
-log = { version = "0.4.29", default-features = false }
-semver = { version = "1.0.27", default-features = false }
+log = { version = "0.4.33", default-features = false }
+semver = { version = "1.0.28", default-features = false }
 structopt = { version = "0.3.26", default-features = false }
-tokio = { version = "1.50.0", default-features = false }
+tokio = { version = "1.53.1", default-features = false }
 webidl2wit = { version = "0.1.1", default-features = false }
 xshell = { version = "0.2.7", default-features = false }
 
-wasmtime = { version = "46.0.1", default-features = false }
-wasmtime-environ = { version = "46.0.1", features= [ "component-model", "compile" ] }
+wasmtime = { version = "47.0.2", default-features = false }
+wasmtime-environ = { version = "47.0.2", features= [ "component-model", "compile" ] }
 
-wasm-encoder = { version = "0.253.0", default-features = false }
-wasm-metadata = { version = "0.253.0", default-features = false }
-wasmparser = { version = "0.253.0", default-features = false }
-wasmprinter = { version = "0.253.0", default-features = false }
-wit-component = { version = "0.253.0", features = ["dummy-module"] }
-wit-parser = { version = "0.253.0", default-features = false }
+wasm-encoder = { version = "0.254.0", default-features = false }
+wasm-metadata = { version = "0.254.0", default-features = false }
+wasmparser = { version = "0.254.0", default-features = false }
+wasmprinter = { version = "0.254.0", default-features = false }
+wit-component = { version = "0.254.0", features = ["dummy-module"] }
+wit-parser = { version = "0.254.0", default-features = false }
 
-wat = { version = "1.253.0", default-features = false }
+wat = { version = "1.254.0", default-features = false }
 
-wit-bindgen = { version = "0.59.0", default-features = false }
-wit-bindgen-core = { version = "0.59.0", default-features = false }
+# TODO: we need a wit-bindgen release to use 1.254 stuff
+wit-bindgen = { version = "0.60.0", default-features = false }
+wit-bindgen-core = { version = "0.60.0", default-features = false }
 
-wast = { version = "253.0.0", default-features = false, features = [ "component-model" ] }
+wast = { version = "254.0.0", default-features = false, features = [ "component-model" ] }
 
 js-component-bindgen = { version = "2.0.11", path = "./crates/js-component-bindgen" }
diff --git a/crates/js-component-bindgen/src/transpile_bindgen.rs b/crates/js-component-bindgen/src/transpile_bindgen.rs
index 894f98f0a..0f5ba703b 100644
--- a/crates/js-component-bindgen/src/transpile_bindgen.rs
+++ b/crates/js-component-bindgen/src/transpile_bindgen.rs
@@ -1165,8 +1165,7 @@ impl<'a> Instantiator<'a, '_> {
             let i = used.as_u32();
             uwriteln!(
                 &mut instance_flag_defs,
-                "const instanceFlags{i} = new WebAssembly.Global({{ value: \"i32\", mutable: true }}, {});",
-                wasmtime_environ::component::FLAG_MAY_LEAVE
+                "const instanceFlags{i} = new WebAssembly.Global({{ value: \"i32\", mutable: true }}, 1);",
             );
         }
         self.src.js_init.prepend_str(&instance_flag_defs);