For whatever reason best known to ledger, and hard to comprehend for users, ledger live app is transmitting information about..
Newsflash: So is almost every piece of software on your computer.
Do you use Windows or iOS? Then your OS is transmitting all that data and more to Microsoft/Apple and a
ton of third parties. Do you use Chrome or any browser based on Chromium (i.e. anything except Tor, Firefox, or one of its forks)? Then your browser is transmitting all that data and more to Google and a
ton of third parties.
You can also use Metamask + Ledger for ethereum.
Here's a great example. Let's take a look at Metamask's privacy policy:
Information we collect from you may include:
Identity information, such as your first name, last name, username or similar identifier, title, date of birth and gender;
Contact information, such as your postal address, email address and telephone number;
Profile information, such as your username and password, interests, preferences, feedback and survey responses;
Feedback and correspondence, such as information you provide in your responses to surveys, when you participate in market research activities, report a problem with Service, receive customer support or otherwise correspond with us;
Financial information, such as your credit card or other payment card details;
Transaction information, such details about purchases you make through the Service and billing details;
Usage information, such as information about how you use the Service and interact with us;
Marketing information, such as your preferences for receiving marketing communications and details about how you engage with them;
Financial information, such as bank account number and bank routing number; financial assets holdings; and
Technical information, such as your Ethereum wallet address, application programming interface (API)-key and network information regarding transactions.
So Metamask collects literally
everything. Not exactly a good recommendation.
Since the seed extraction "feature", everyone should have abandoned their Ledger devices a long time ago. But when it comes to privacy, Ledger Live is only as bad as most other software out there. If you aren't using Linux + Firefox/Tor + your own node, then Ledger Live isn't any worse than the rest of your device.