The second description of the dream pictures it as one complete image which shall be destroyed as a unit by "the Stone." Daniel wrote, "And in the days of these kings shall the God of heaven set up a kingdom, which shall never be destroyed: and the kingdom shall not be left to other people, but it shall break in pieces and consume all these kingdoms, and it shall stand for ever. Forasmuch as thou sawest that the Stone was cut out of the mountain without hands, and that it brake in pieces the iron, the brass, the clay, the silver, and the gold; the great God hath made known to the king what shall come to pass hereafter: and the dream is certain, and the interpretation thereof sure" (2:44-45).
So, which is correct? The answer is both. In Revelation 17:9-17, we find that the Beast described in Revelation 13:1-10 as having died and been reanimated by Satan, will rise from the sea (Dan. 7:3; Rev. 13:1; 17:15), and it will have characteristics of the four kingdoms of the image: the lion, the bear, the leopard, and the beast with iron teeth and ten horns (comp. 13:2 w/ Dan. 7:4-7). Since the fourth beast of Daniel is clearly Rome, it is very likely that the Beast of Revelation (the Antichrist), will rise to power from somewhere in the former Roman Empire. We read that the "whore" described as "MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS OF THE EARTH (17:5), will be the city which is ruling when John wrote the Book of Revelation (17:18). Notice he said "reigneth," and not "reigned" or "shall reign." Note she is riding upon the Beast; she is not the Beast.
It is my GUESS that the Beast, the Antichrist, will come from a place which was within the borders of all four empires. A map of the four shows the only area which was ruled by all four is around modern day Iraq, which ironically was the area ruled by Antiochus Epiphanes IV, who was a perfect type for the Antichrist
(Dan. 8:9-25; 11:21:35; Mt. 24:3-29; Rev. 13:1-10; etc.).