Electrical – STM32F4 host powering USB device using VBUS

A USB 2.0 host is only guaranteed to be able to supply 100mA (one unit load) without negotiation, so 150mA is just fine to allow any device to enumerate (in theory).

Of course there are all kinds of things that people could plug into a USB port that don't honor the specification and draw hundreds of mA, so some customers might be disappointed that their coffee cup warmer and 4,000 RPM USB LED fan doesn't work.

Some compliant devices ("low power") will operate from a single 100mA maximum unit load. Some devices "high power) require more than 100mA to operate, and such devices (if compliant) would enumerate but probably would not be able to operate properly with the 150mA limit. I believe external powered hubs are always less than one unit load.

Anyway, obviously you can't design a circuit until you determine the requirements such as the maximum number of unit loads you are going to allow for, how compliant to the standard you're going to be etc.

As far as compliance goes, battery powered Root Port hubs are allowed to limit their supply current to one unit load (100mA) and still be compliant. That's called a "low power" port. Otherwise, you have to be prepared to pony up to five unit loads (0.5A) upon polite request.

The most likely problem is that there's too much inductance in the D+/D- wires.

USB is picky. Running a USB signal through a breadboard, a pair of loose hookup wires, and a breadboard again is likely to degrade the signal to the point that it won't work.

You may be able to rescue this part by soldering the resistors directly between the USB breakout and the MAX3421E breakout -- bypassing the breadboard entirely. It'll be ugly, but it might work.

However, chances are that you'll probably have to respin the MAX3421E board with a USB connector on the board. If you do this, include a footprint for the crystal and associated capacitors on the board as well; the stray capacitance on a breadboard will often interfere with oscillators.