Why can ethanol be considered both a Lewis acid and a Lewis base?
because, like water, it can both accept and donate lone electron pairs
Ethanol acting as Lewis acid :accepting electron pair
in this case the hydroxyl proton receives the electron pair from a strong base, producing the ethylate anion.
Ethanol acting as Lewis base: donating electron pair
in this case the hydroxyl oxigen gives an electron pair to a strong acid, producing a protonated alcohol