So Trump is online today claiming that the campaign finance felonies Cohen pled guilty to aren't actually crimes (yeah we're in the "crimes aren't crimes" stage),
I mean, it’s possible. One plausible possibility: prosecutors have Cohen dead to rights on financial crimes. The campaign finance issues are weaker. The prosecution offers two options: plea to just the financial crimes and receive a 6 year recommendation, or plead to both the financial crimes and the Trump charge, and get a 5 year recommendation. (Sentences are purely hypothetical).
Stuff like that sounds counter-intuitive, but it happens frequently. In such scenarios, you have Defendants who may plea on charges that they didn’t do / can’t be convicted on simply because it’s in their best interests to do so.
So, Cohen pleading guilty doesn’t necessarily even mean that a crime was in fact committed.
But, that defense isn’t likely to play well in the world of public opinion.