Whether Trump is in that deep with Russia really depends on whether they actually have blackmail material on him or not. The minute he came out and said "I have had no dealings in Russia", that lie set him up for blackmail because Putin knows otherwise.
It's still rather silly as his rapid turn around he made after backing the Ukraine, early in his term, just to come out shouting, "America kills people too!", less than 48 hours later and supporting Russia again.
A bull in a china shop doesn't need to get orders from the anti-china league in order to cause damage, he just does what comes naturally. I don't think Putin ever planned on controlling the United States through Trump. He just wanted to get an complete idiot and ineffective President in office so America wouldn't interfere with Russian ambitions.
We know two things:
1) Trump has had some very shady dealings with Russians.
2) Trump seems to bend over backwards to assist Russia.
It's impossible to imagine that in between those two things is Putin saying, "It'd be a shame if this stuff was revealed".