Springboard crash on iPhone after Yosemite upgrade

I am an iOS developer. After I upgraded to Yosemite, when I try to build an app from Xcode and run on my Dev phone it crashes the spring board.

After a few crashes even my mac crashes with back screen.

Steps I followed,

Upgraded to Yosemite

This corrupted dev profiles or certificates and when I tried to run an app from XCode it would try to launch the app and crash the springboard on phone.

I tried this with blank app created using Xcode wizard, same results

Tried it with old apps already on phone that were using the profile same results.

This usually happens when profiles on my phone are not valid and XCode has to resolve and update the profile issue.

Looks like all the old profiles are not cleaned up and its confused between old and new profiles.

Now that we cannot view and manually delete profiles on iPhone, I had to erase all data and settings from the phone, after which I was able to run the apps from XCode fine.

The issue re-appeared when the phone was removed from the development devices and XCode had to request for dev profile for the iPhone again.

After which it started crashing the iPhone springboard again.

After a few tries it even crashed my mac.

Another thing I have noticed is USB ports stop working after a crash on mac and I have to reboot.

Clearly I am frustrated. I had to Reset data/settings on my phone which helped, but apple needs to address this issue soon.

One more colleague on my team is having similar springboard crash on his iPad.

Anyone seeing similar issue please comment, thank you.