Here is what we know about the situation.
Cohen had fronted the cash, $130,000, to pay porn star Stormy Daniels for keeping quiet about a decade-old tryst with Trump.
Cohen also pleaded guilty this week to violations to federal campaign laws, admitting in his plea that he recouped more than $400,000 from the Trump Organization stemming from a 2016 hush payment to adult film actress Stephanie Clifford.
Court documents revealed the extent of Trump's supposed involvement, detailing how Cohen turned in fraudulent invoices in order to receive money back from Trump.
The Manafort charges stem nearly completely from his personal businesses but they came to light after he went to work for Trump.
The moves may pose significant new peril for Trump, whose 2016 campaign is under investigation by Special Counsel Robert Mueller for its ties to Russian Federation.
Fresh from his declaration that "truth isn't truth", President Donald Trump's personal attorney, Rudy Giuliani, said Thursday that Americans would "revolt" if Trump was impeached "for political reasons". Steyer is the founder of a pro-impeachment group, Need To Impeach.
Though the letter is likely to have no bearing on how the Republican-controlled committee proceeds overseeing the Justice Department's investigations over the next few months, it does provide insight into Judiciary Committee Democrats' priorities if they are able to wrestle control of the House after the midterm elections in November.
In July, Cohen released audio tapes of him and Mr Trump allegedly discussing one of the payments before the election. "I think everybody would be very poor, because without this thinking, you would see - you would see numbers that you wouldn't believe in reverse", Mr Trump told Fox And Friends.
Bolton: Putin shares our desire to get Iranian troops out of Syria
"Our objective is to have as few waivers as possible and that's something we're going to pursue", Bolton says of the sanctions. Such meetings were aimed toward "opening up channels" and "break through some of the difficulties we've had".
Davis said Cohen will continue to tell the truth, but pleaded with viewers of the networks he appeared on to help Cohen out as his family is "suffering".
The website Davis mentioned was nonexistent at the time, and now redirects to President Donald Trump campaign's website.
That stance it at odds with federal prosecutors, Cohen and most legal experts. And the lawyer is just one in a series of former Trump loyalists who have dissociated themselves from the president, intent on saving themselves in a series of nasty legal and political battles. Cohen facilitated the payments through an outside consulting company, and not the campaign, a fact that undercuts Trump's argument they were not illegal.
He said that the payments had come from him personally, not from the campaign, but he had not known about them until "later on". Federal law restricts how much individuals can donate to a campaign, bars corporations from making direct contributions and requires the disclosure of transactions.
It was Cohen's decision to enter a plea deal that might pose the most problems for Trump.
"I took control of the Department of Justice the day I was sworn in", he said.
Legal figures who are favorable to the president have rushed to his defense, saying the issue is being overblown.
MichaelCohenTruth.com now redirects to a GoFundMe page titled "President Trump's Border Wall" on mobile devices. But if they discover that the first duty demanded of them, by their own rabid followers, is to impeach President Trump, they may wonder why they were so eager to win it.
Impeachable offenses are vaguely defined in the Constitution as "high crimes and misdemeanors" and, in practical reality, are up for Congress to decide.