“I need to open up a company for the transfer of all of that info regarding our friend David,” Cohen said in the recording, likely a reference to American Media head David Pecker.

When financing comes up again later in the conversation, Trump interrupts Cohen asking, “What financing?” according to the recording. When Cohen tells Trump, “We’ll have to pay,” Trump is heard saying “pay with cash” but the audio is muddled and it’s unclear whether he suggests paying with cash or not paying. Cohen says, “no, no” but it is not clear what is said next…

The recording, which was provided to CNN by Cohen’s attorney Lanny Davis, was made in September 2016. It’s the latest breakdown in the decade-long relationship between Trump and Cohen, who once said he would take a bullet for the President. Cohen in recent weeks has made clear he is open to cooperating with US prosecutors.

“What is this about? This is about honesty versus false disparagement of Michael Cohen. Why is Giuliani out falsely disparaging Michael Cohen — because they fear him,” Davis said on “Cuomo Prime Time.”