Well, we know it happened with Epstein. But there's no definitive evidence Trump was involved.
The more important issue with the Epstein files is where all the dirt went. Who has it now? Lots of us suspect Epstein was running a blackmail honeypot, but it doesn't look like that's even been investigated.
I'm confident the CIA knows what he was up to, and their silence is deafening. They could easily clear things up (either "We investigated and found Epstein wasn't blackmailing anyone" or "Yep, Epstein was blackmailing people and selling dirt to third parties"). But they haven't yet said anything.
I think the Epstein thing ensnares so many people in DC that no one wants to go there. It would be a tangled shitshow of accusations and recrimination. I also think all the real evidence was "disappeared" when he was arrested. And he was killed to seal the deal.
But that's just a guess. We don't really know, and it's clear that the DC people don't want us to know.