If this is true, the idea that it could pretty much tear DC apart is also pretty close to true. One of the only two enumerated grounds for impeaching a president in the constitution is bribery. Blackmail is a form of bribery since the blackmailer is actually demanding a bribe from his victim in the form of action or inaction by the victim in return for the valuable consideration of nondisclosure of damaging information. In turn, the victim is also guilty of bribery when he provides that consideration to the blackmailer. That type of impeachable conspiracy between the Chief Justice and POTUS being proved would devastate the stature of the entire Federal government.
One of the only two enumerated grounds for impeaching a president in the constitution is bribery.